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 National Bank Intentionally Collapsed Hryvnia, Source Says

The regulator deliberately devaluated the rate trying to draw the President's attention to the problem of currency shortage.

Forbes.ua cites a source in the National Bank: "On November 13 the National Bank purposefully remained clear of the Interbank exchange and let the rate drop. And all that just to show the depth of the problem and encourage the leaders of the country to sign the law on foreign exchange proceeds as soon as possible," - says a source in the NBU.

According to the report, the National Bank was going to make up the deficit by forcing exporters to sell their profits in the Interbank market.

"The law made the representatives of the export lobby very unhappy. Namely the companies owned by Akhmetov, Novinskiy, and Firtash. They already send 'troops' to the Presidential Administration to veto the law," says the official.

As you know, on November 6, the Verkhovna Rada adopted the Law "On amendments to some legislative acts of Ukraine concerning the extension instruments of influence on the monetary market."

The document provides the NBU with the right to impose a mandatory sale of foreign currency earnings on exporters. But the head of the state has not yet signed the document.

The National Bank has also recognized the possibility of replacing the fixed rate policy with market formation of the national currency cost.


 
 
 
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