Arbuzov: There are no reasons for deep devaluation of hryvnia

In Ukraine, there are no reasons for deep devaluation of the hryvnia in the short term, chairman of the National Bank of Ukraine Serhiy Arbuzov said on the air of the Inter TV channel.
 
"We have good foreign exchange reserves, we have virtually low inflation. We have no reasons for concern today. If there are no speculative expectations, if there are no statements made  by politicians for their needs, not the needs of the population, if people listen to the National Bank, then I do not see the reasons for deep devaluation in the short term, either this year or early next year and we can safely stay at a stable rate," Arbuzov said.
 
Commenting on the situation regarding the fall of the hryvnia, he noted that "there was free liquidity in the market, so some banks decided to capitalize on this."
 
"America had a rest on Monday and all this led to the fact that the National Bank, not interfering with the process, drew attention to the fact that the market began to turn to panic. Once we have determined it a threat, we intervened and the situation returned to normal. It’s a pity that some citizens, having listened to pseudo-experts and politician statements, bought the dollar at inflated prices. I know that in some areas people bought it at rate of 8.40 and 8.30. We have already adjusted the situation, so today the interbank rate is 8.08, the cash rate is about 8.12-8.14," head of the NBU said.

In addition, according to the Arbuzov, Ukraine's population today trusts in the banking system. "The deposits are growing, mainly those in the national currency. When we interviewed people asking which currency they had more confidence in, the hryvnia took the first place. It was a great surprise to me. This means the population trusts in the National Bank, the population trusts in the banking system," he said.