14:24 16.03.2011

Hryvnia exchange rate could strengthen, says NBU Council head

The printing activity of central banks of the United States and European Union (EU) could prompt the hryvnia exchange rate to strengthen, according to Petro Poroshenko, Head of the Council of the National Bank of Ukraine (NBU).

"Today it's more likely that a trend of hryvnia exchange rate reinforcement will be seen due to the mass triggering of the money printing presses in the United States and EU. I don't see any devaluation risks for the hryvnia," he said in an interview with Interfax-Ukraine.

Poroshenko said that it was better for Ukraine to start introducing new effective derivatives: gradually and observing the key positions for financial security.

"I think that the new leadership [of the NBU] is ready for this," he said.

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