Business banks reproach NBU of artificially strengthening hryvnia

Business banks are reproaching the National Bank of Ukraine of artificially strengthening the hryvnia. Thus, they say, the offer of currency did not increase, just the ask for it essentially reduced for certain reasons.

First, banks have no hryvnias at all. That is why they have nothing to buy currency at, either cash or noncash.

Second, the rush demand for currency among population reduced.

Third, the volumes of import fell down, and the outflow of capital essentially reduced, both shadow and on official debt payments.

But the main reason for a certain revaluation of the hryvnia, in the opinion of business bank representatives, is that the central bank is forcing them to sell the whole sum of reserves on currency credits under the threat of sanctions. This takes three months.

Business banks are complaining of having nowhere to take currency from. In their opinion, the NBU either must cancel this resolution, or prolong the term of its implementation. Otherwise all banks will fall under sanctions, bankers say.

At the same time, Central Bank Governor Volodymyr Stelmakh, who is accompanying the President in his visit to Switzerland, told the press Friday that the cause behind the hryvnia strengthening in the past few days was the increasing trust of the population in the national currency. The population stopped massively buying out currency, Stelmakh said adding the hryvnia strengthening tendency would continue in the near future.

As reported, from the beginning of the year the hryvnia rate on interbank strengthened by 3.77% from 7.95 UAH/USD to

UKRINFORM