Azarov accuses banks of forex speculations

The destabilization in the Ukrainian currency market in recent days was caused by speculations of the banks, which used hired experts and the media for this, Prime Minister Mykola Azarov said during his working visit to Donetsk.

"The excitement and speculations are caused by banks, which have free resources, can buy large volumes of foreign currency, may employ so-called experts, hire the media and create hysteria, forcing the common people to buy useless dollars," Azarov said.

The Prime Minister urged the National Bank of Ukraine to deal with such actions of the bankers. "The question arises: whether the government and the National Bank have not enough tools to intervene in the situation and protect the public interest? The have enough powers to do that! That's why I ask the National Bank: exercise your powers in this situation," Azarov urged.

He noted that government policy is implemented in coordination with the National Bank of Ukraine: "These are two bodies in the country who are responsible for the country’s stability, in the foreign exchange market in particular".