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 Yanukovych Spent $22 Billion to Maintain Hryvnia Rate at $8 - Head of National Bank

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According to chairman of the NBU Valeriia Hontarieva, the former management of the National Bank of Ukraine spent $22 billion to maintain the exchange rate at 8 UAH/USD.

She stated this in a TV interview, Censor.NET reports citing Gordon.

"In order to maintain a fixed rate of 8 UAH/USD, the previous management of the National Bank had spent $22 billion of foreign exchange reserves over the course of the past two years," she said. $4 billion of these $22 billion have been spent this year - in January and February, the head of the National Bank added.

Read also: Dollar Passes 16 Hryvnia on Interbank Market

Yesterday, Nov. 11, hryvnia updated its historic low on the interbank foreign exchange market: trading against dollar closed at 15.88 UAH/16.25 USD, 19.73 UAH/20.19 for EUR.


 
 
 
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