Economy

No grounds to weaken hryvnia exchange rate, says premier

There are no grounds to weaken the hryvnia exchange rate, Ukrainian Prime Minister Yulia Tymoshenko has said.

"There are no grounds for national currency fluctuations," she said at a briefing in Kyiv on Monday.

She said that the weakening of the hryvnia exchange rate "is impossible to explain by means of economic and crisis-related grounds."

Tymoshenko described a reduction in the hryvnia rate as mere speculation. She said that she would demand that the National Bank of Ukraine "immediately bring order to the hryvnia rate."

She said that Ukraine's trade deficit had dropped by nearly 15 times in the first half of this year compared to the same period last year, to UAH 4.8 million.

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