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Experts believe that the increase in the hryvnia rate, which has been observed from mid-November, happens due to the measures of the National Bank of Ukraine. The fluctuations of the hryvnia rate observed in September and October were caused by speculators.
"The key reason was the introduction of new rules for selling foreign currency earnings of exporters and the introduction of tax on currency sale in the cash market," former deputy chairman of the National Bank of Ukraine Serhiy Yaremenko said.
Director of analytical research department of Concorde Capital Company Oleksandr Parashchiy supports this idea.
"First of all, the new rules of currency sales by exporters played its role. As for the cash market, the seasonal factors and the information on introduction of tax on currency sale helped to strengthen hryvnia rate. The last factor was important for the speculators."