The head of the Ministry of Finance gave a forecast of the hryvnia exchange rate

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The head of the Ministry of Finance gave a forecast of the hryvnia exchange rate

17.08.2020 News

There are no grounds for devaluation of the hryvnia to UAH 30 / $. This was stated by Finance Minister, Serhiy Marchenko in an interview with Focus.

“I do not see the preconditions for the course to reach such a value. And I do not see any tools with which anyone can influence the course in this direction, “he said.

According to the Minister, there are currently no fundamental threats to the exchange rate stability of the hryvnia.

“Due to quarantine, imports to Ukraine fell by 18%, while exports fell by only 6%, which actually leveled the balance of payments. That is, the outflow of currency from the country has decreased and this reduces the pressure on the foreign exchange market, “he explained.

The country needs the hryvnia exchange rate, which ensures macroeconomic stability, Marchenko stressed. “If there are grounds for revaluation or devaluation – such processes should take place gradually, without creating a shock situation in the market,” he said.

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