The collapse of a hryvnia exchange rate is inevitable

The collapse of a hryvnia exchange rate is inevitable

The collapse of a hryvnia exchange rate is inevitable

Today the National bank of Ukraine artificially holds a hryvnia exchange rate and will do it, most likely, till the end of autumn of the current year. Only for the last month the volume of gold and foreign exchange reserves of the state was reduced almost by one billion hryvnias. This fact gives the chance to financial experts to predict quite essential falling of a hryvnia exchange rate in relation to the American dollar. Now a question only in the national currency of the Ukrainian state – to 9 or to 12 hryvnias for dollar how will fall in price.

As reports National bank of Ukraine (NBU), for May, 2012 the volume of the state gold and foreign exchange reserves was reduced by 902 630 000 dollars, that is, to 30 billion dollars. Reserves in gold, nevertheless, practically did not undergo changes.

Long ago for anybody not a secret that the main part of gold and foreign exchange reserves of Ukraine the National bank uses to hold in stability a hryvnia exchange rate in relation to other foreign currencies. It is official policy of the state.

Falling of gold and foreign exchange reserve let’s to experts an occasion think that the hryvnia will undergo an inevitable collapse in the autumn, right after parliamentary elections. The only question only in the national currency of the Ukrainian state how will fail.

Nevertheless, Oshchadbank continues to believe in stability of hryvnia. The chairman of the board of bank, Sergey Podrezov, declares that there are some macroeconomic factors which speak well for preservation of stability of national currency.

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