According to him, the stability of the hryvnia exchange rate provides a good balance of payments. In particular, in April, the inflow of currency into the country exceeded its outflow by 508 million U.S. dollars. The net balances on the exporters’ accounts makes up 5.4 billion U.S. dollars.
Prasolov mentioned that NBU has sufficient gold and foreign exchange reserves for rapid response to external challenges and fluctuations on the U.S. and European markets. "As for June 1, the gold and foreign exchange reserves make up 30.8 billion U.S. dollars. It is actually a three-month net imports level, although the norm is three months. Therefore, hryvnia feels quite stable," Prasolov assured.
In addition, a decrease in the Ukrainian demand for cash has a positive influence on the hryvnia exchange rate. "So, since June 2011 to April this year, this amount was reduced by six times: from 1 billion 200 million U.S. dollars to 209 million U.S. dollars," the chairman of the NBU Board stated.
In addition, the important factor in ensuring the hryvnia stability is low inflation (0.6% at year-end), as well as the ongoing economic growth.
"The information that the National Bank is going to print more money in summer is a complete defamation. It is not true. The National Bank of Ukraine does not intend to and will not print more money," Prasolov summed up.
As a reminder, the head of the National Bank of Ukraine Serhui Arbuzov expected that inflation in Ukraine in 2012 will not exceed 5%, what is lower than the government forecast (7.9%).
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