The former deputy head of the National Bank of Ukraine Serhiy Yaremenko believes that the signing by the President of Ukraine Viktor Yanukovych the law allowing the National Bank for up to six months to introduce the requirement of compulsory sale of foreign currency earnings, making impossible loosening rate by the market participants.

"This is absolutely normal norm. Now the market participants lose their ability to shatter the rate, the currency will be evenly distributed in the market," he said.

At the same time, he said, in the current realities the norm is the requirement of time. Yaremenko is confident that otherwise national currency would suffer.

He added that seven years ago the refusal of the then leadership of the NBU of the obligatory sale of currency earnings by exporters including led to negative consequences.

"I was an outspoken supporter of the right to demand foreign earnings sale from exporters. This rule does not hurt anyone. But Stelmakh decided to the contrary by initiating its abolition. The results became evident later," Yaremenko said.



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