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 Emergency National Bank Council Meeting to Take Place Due to the Hryvnia Collapse

The situation in the currency exchange market and the dollar hike will be the subjects of tomorrow's meeting of the National Bank Council.

Glavkom is citing a member of NBU Council and Party of Regions deputy Vasyl Gorbal: "What are the reasons for today's dollar hike? I think we will have an answer from the NBU management tomorrow. The meeting of the National Bank Council is scheduled for tomorrow. The government is also worried about today's situation since there is no reason for deviation from the forecasted exchange rate".

"The most important is that this does not become a trend because the businesses will start including devaluation risks (in the price). And this slows down the economy and we have seen how sudden rate fluctuations influence the economy", concluded Gorbal.

Hryvnia relapsed because the government was artificially maintaining its rate before the elections while not encouraging bank loans. And this has led to a currency imbalance in the bank market.

 
 
 
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