Speculative currency exchange processes in Ukraine have subsided, executive director of the Independent Association of Ukrainian Banks Serhiy Mamedov told a press conference "The results of the first World Savings Day in Ukraine", ForUm correspondent reports.

"The speculative process, which began this fall, has subsided. Rate have stabilized and is in the range of 8.11 - 8.15 UAH / USD for sale. So, the people calm down," he said.

According to Mamedov, the National Bank has the tools to contain the rate at that level. "On the other hand, economic developments indicate that the course can stay at this level," the head of the Association said.

Speaking about the currency stability in 2013, he said that it would depend on economic developments.

"I think it all depends on the changes, the reforms conducted by our government. Now we need to run the economic processes so that business is more intensive. Then our exchange rate could not be influenced. Rate is not something that someone invented and identified. This, above all, is a reflection of economic processes. Next year will be very difficult. Therefore, in my opinion, we can conduct real reforms, which will lead to economic growth. Then the rate can stay (at the same level - Ed.) or even strengthen. But it could be the opposite. It all depends on the work of the whole machine," Mamedov said.


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