Weakening of the hryvnia exchange rate seen this week, despite favorable fundamental external factors, is linked to political instability, Deputy Governor of the National Bank of Ukraine (NBU) Oleh Churiy has said.

"Ukraine continues receiving large currency income from exports of grain and oil and the steel and iron ore prices on the global markets started growing, worsening of political tension causes nervousness on the currency market and neutralizes the influence of favorable factors," the NBU's press service reported, citing Churiy.

He said that the weakening of the hryvnia exchange rate on the interbank market on Tuesday higher than UAH 26/$1 was the result of this.

"Further destabilization of the political situation increases hryvnia exchange rate fluctuations and relevant negative consequences for the Ukrainian economy," he said.

Churiy said that the NBU is monitoring the situation on the currency market. The central bank has enough forex reserves in the amount of $15.5 billion to smooth extra fluctuation of the exchange rate.