The National Bank regards further hryvnia devaluation as an instrument for the foreign currency market stabilization, director of the NBU foreign economic relations department Serhiy Kruhlyk told the 24 channel. At the same time, he did not specify till what rate the national currency rate can be dropped, UkrInform reported.

"Gradual devaluation like gradual revaluation is the policy of the National Bank regarding stability, since if depreciation of the currency goes, devaluation is a method of stabilization by way of dropping the official currency rate versus hard currencies", the official said.

According to him, in order not to allow sharp jumps of the rate, the National Bank will continue a policy of currency auctions at the privileged rate and interventions both on the Interbank and for the needs of the cash market. Kruhlyk noted that in such a way the regulator hopes to reduce agiotage among the population.


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