Project leader of the Open Market Operations Department Emal Bakhtari said hryvnia has been strengthening amid cheaper oil and gas imports and favorable conditions for Ukrainian export.
“Now the market is in a favorable condition. Oil and gas, which Ukraine imported, fell in price, not to mention very good conditions for export. This year Ukraine has harvested a record crop. Also, metallurgists earned “very good” volumes of foreign currency,” NBU representative said.
Also, Ukraine set an annual growth of the IT industry and an increase in the number of Ukrainian companies receiving orders from foreign businesses, which results in higher earnings in foreign currency.
Bakhtari recalled of a new factor that maintains the exchange rate this year – significant volumes of purchases by non-residents government bonds denominated in hryvnia, UNIAN reports.
“A fixed rate is like candy, the price of which is actually very high. It leads to losses, crises and creates the illusion of stability. A healthy situation is a floating rate that adequately responds to what is happening in the market,” Head of Projects and Programs of the NBU’s Department of Open Markets said.
As The Journalist reported, dollar exchange rate hits another low in Ukraine.
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