14:46 03.12.2012

Balance on Ukrainian currency market restored, says advisor to NBU governor

2 min read

The Ukrainian currency market shows obvious signs of consolidation of demand and supply at the balanced level, Valeriy Lytvytsky, the head of the group of advisors to the governor of the National Bank of Ukraine (NBU) has said.

"The NBU has been not only selling currency, but also buying for several days," he said.

"We've proved that we have consistency between what we say and what we do," he said.

Lytvytsky said that the development of the situation again confirmed the fairness of NBU's statements that its exchange rate policy is not divided into phases of the political cycle.

He said that the central bank after the parliamentary election continues to smooth out waves on the market caused not by fundamental factors, but by speculation.

"We'd like the following lesson to be learned: one should trust more the NBU and statements of its heads, and be more wary of statements of various domestic and foreign experts and analysts, among whom are people who were hired [by certain persons]," he said.

He added that processes seen on the currency market could be of a stable character.

"We expect that the legal service will be provided on time. It will be thoroughly thought out, and it will make easier our work on the stabilization of the situation… I think that people who make political decisions understand the multiplying consequences of such waves on the currency markets," Lytvytsky said.

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