UkrInform
Ukraine and world news. Ukrinform brings the latest news, daily news, political news, business news, social news, cultural news, sports news, international news
National Bank says hryvnia exchange rate fluctuations pose no threat.
The National Bank of Ukraine (NBU) believes that the dynamic of hryvnia fluctuations in the foreign exchange market is quite safe and has market prerequisites.
NBU Governor Andriy Pyshnyy said this at a briefing, according to an Ukrinform correspondent.
"The exchange rate fluctuations we are currently witnessing do not pose any threat. This dynamic is quite safe and is driven by market conditions," Pyshnyy said.
He reminded that the market is currently in a state of managed flexibility, which implies appropriate exchange rate fluctuations under the influence of supply and demand.
"We are gradually returning to the usual parameters that existed before the war. Thus, with the participation and presence of the National Bank [...] to protect the market from excessive fluctuations," Pyshnyy said.
The National Bank also explained the reason for the slight devaluation of the hryvnia.
"Since the second half of March, government spending has increased, mainly due to international assistance [...]. This significantly impacted the relationship between supply and demand in the market, resulting in devaluation processes. At the same time, the situation on the foreign exchange market remains under control.," said Deputy NBU Governor Yuriy Heletiy.
Read also: NBU , EBRD pledge to support war veterans
He stressed that the NBU is an active participant in the market and is ready to smooth out excessive fluctuations. Moreover, the NBU has a sufficient stock of foreign exchange reserves.
"We are seeing positive trends in the market in terms of increasing its depth. More than 50% of market transactions take place without the NBU's participation. In quantitative terms, this is more than USD 100 million per day. In January, this figure was USD 60 million, and now it is more than USD 100 million. These factors also contribute to the market's controllability and stability. The NBU is in control of the situation, and therefore there is no reason for concern," the NBU Deputy Governor said.
As reported, on October 3, 2023, the National Bank of Ukraine switched to the regime of managed flexibility of the exchange rate. The fixed exchange rate of UAH 36.5686 per U.S. dollar was in effect in Ukraine from the end of July 2022 to October 3, 2023.
Russians drop explosives in Beryslav. Fire broke out
The Russian army dropped explosives from a drone on a previously shelled educational institution in Beryslav, Kherson region.
Zelensky: Peace summit to take place and should be successful, no matter attempts to disrupt it.
President of Ukraine Volodymyr Zelensky has emphasized that the Global Peace Summit will take place and should be successful, no matter the attempts to disrupt it.
Two Ukrainians killed in road accident in Warsaw
Three men, two of them citizens of Ukraine, were killed in a road accident in Warsaw on Friday, May 3.
ISW: Shoigu likely attempting to temper domestic expectations ahead of Russian offensive.
Russian Defense Minister Sergei Shoigu issued a notably candid assessment of recent Russian advances in Ukraine and refrained from sweeping claims about the success of the Russian war effort, possibly in an attempt to temper domestic expectations ...
Several explosions heard in Kharkiv
A series of explosions were heard in Kharkiv.
Britney Spears sparks mental health concerns after ambulance responds to L.
New mental health concerns have risen about Britney Spears after she was photographed leaving a hotel in Hollywood. This comes after reports from the L.A. Fire Department saying they responded to a call about an adult woman who was hurt. » Subscri...
Jesse Watters: This campus protest movement isn't helping anyone.
Fox News host Jesse Watters asserts anti-American activists are anticipating 'mob rule' to win on 'Jesse Watters Primetime.' #foxnews Subscribe to Fox News! Watch more Fox News Video: Watch Fox News Channel Live: FOX News Channel (FNC) is a 24-hou...
Biden speaks on college protests, Trump attends 2nd gag order hearing, more - America Decides.
Biden says violent protest is not protected; U.S. Senate candidate Angela Alsobrooks discusses Maryland race CBS News Streaming Network is the premier 24/7 anchored streaming news service from CBS News and Stations, available free to everyone with...
Climate reporter on possible forced migration for 'millions' due to climate change.
ABC News' Linsey Davis speaks with investigative reporter Abrahm Lustgarten as he issues a dire warning in his new book, "On the Move: The Overheating Earth and the Uprooting of America." —–– Subscribe to ABC News on YouTube: Watch 24/7 coverage o...
Houston hit by heavy rains, flooding
Evacuations have been ordered in Harris County, Texas, after strong storms rolled through with heavy rains leading to flooding. » Subscribe to NBC News: NBC News Digital is a collection of innovative and powerful news brands that deliver compellin...
Sean Hannity: The pressure got to President Biden
Fox News host Sean Hannity says President Biden's statement on the anti-Israel protests was 'pathetic' on 'Hannity.'