Legislator talks of possible hryvnia rate by year-end.

Photo from UNIAN

Photo from UNIAN

Head of the Financial, Tax and Customs Policy Parliamentary Committee Danylo Getmantsev says there is no macroeconomic indicator that would show the pressure on the hryvnia, Ukraine's national currency, so there is no reason to expect the official forex rate at UAH 32 - UAH 33 to the U.S. dollar by New Year's Eve.

"First, we've passed the peak of repayments [on Ukraine's foreign debt]. Second, we have no single macroeconomic indicator that would show the pressure on the hryvnia," MP told the Ukrainian TSN TV news service on October 12.

Getmantsev says there is also no reason to talk about the upcoming fluctuations so far.

"We won't be printing [money], that's for sure. The NBU Governor has assured us of this. There's no reason to say that the forex rate will be 'jumping.' What is the nuance? The NBU is not targeting the exchange rate and inflation. According to its calculations, inflation will reach 4.5 % by year-end. This is not a catastrophe. It won't have any catastrophic effect on the forex rate," he said.

"The NBU, let's pay our dues to them, react very quickly to volatility on the forex market. There are fluctuations being observed, to various reasons... And the NBU compensates them with forex interventions. Therefore, they will deal with this in a really professional manner," he added.

Asked whether the hryvnia rate against the U.S. dollar may reach UAH 32 – UAH 33 by the New Year, Getmantsev replied: "I won't voice specific figures, but I see no reason for that."

Forex rate in Ukraine: Latest

The National Bank has set the official forex rate for October 13 at UAH 28.25 against the U.S. dollar, which made the country's national currency slide by four kopiykas.

By 16:00 Kyiv time on October 12 hryvnia quotes to the dollar on the interbank forex market settled at UAH 28.28/28.30 to the dollar, while those against the euro stood at UAH 33.41/33.44.

Author: UNIAN

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