Experts predict no hryvnia fluctuations due to positive balance of payments

"We have balance of payments surplus for quite a long time. This, in turn, supports the stability of the national currency: amount of foreign currency coming to Ukraine allows the National Bank not to use foreign exchange reserves to stabilize situation on the foreign exchange market," the expert of the International Centre for Promising Studies, Oleksandr Zholud said.

According to him, the trend of continuing positive balance of payments of Ukraine will maintain the hryvnia stability in future.

 

"It is clear that this trend will influence the national currency rate: balance of payments surplus will promote the hryvnia stability," the financier said.

In turn, the 'Expert-rating' chief financial analyst Vitaly Shapran believes that the current level of gold and forex reserves allow regulators to neutralize any risk of Ukraine's balance of payments deficit by the year’s end.

"August is a good month for the export of Ukrainian agricultural products, so it became the primary source of the surplus," he said.

Financial analyst Eric Naiman agrees with colleagues, adding that in August, a positive balance of payments of Ukraine was the result of an increase in foreign direct investments, attracting funds from abroad by the corporate sector, as well as foreign exchange revenues on election’s eve.