The National Bank of Ukraine (NBU) says hryvnia's devaluation is a result of inefficient economic policy of the authorities over the past several years, NBU's first deputy governor Anatoliy Shapovalov told the 5 Channel, according to UkrInform.

Shapovalov noted that there are economic and psychological factors that provoke devaluation, however, inefficient economic policy of recent years is the strongest reason that has led to the current state of affairs.

Since the beginning of the current year, according to the banker, the central bank has sent over USD 8 billion to bolster the hryvnia rate from its reserves.

The hryvnia has lost 53 kopecks UAH 8.0 to UAH 8.53/USD 1 from August 7 to August 27 on the interbank currency market.


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