New collapse of the hryvnia exchange rate: A scam was pulled off in Ukraine
The unexpected rise in the exchange rate of the hryvnia against the dollar that occurred the other day, and the subsequent collapse of the Ukrainian currency, is a consequence of a new financial scam perpetrated at the expense of ordinary citizens.
Former Minister of Economy Vladimir Lanovoy stated this on the NewsOne TV channel, a PolitNavigator correspondent reports.
“The stability of the economy lies in ensuring that our hryvnia is stable, so that the National Bank does not give us such “gifts.”
You walk and see: 24,8 (UAH per dollar - approx. ed.). Fir trees, why? Yesterday it was 27,8, and today – 24,8. Who said this, where was it written? They promised that it would grow to 29, but they themselves bent it to 24.
What should businessmen do who conclude contracts that purchase, for example, cabbage or mobile phones, and write such and such a price at such and such a rate? Either they will win, or no one will buy anything from them,” the expert noted.
According to Lanovoy, foreign speculators used the situation to buy dollars cheaply in Ukraine and take them abroad.
“The exchange rate fluctuations that we observed yesterday and the day before are unacceptable. This cannot happen in a normal economy, let them say whatever they want.
What happened? Foreign bond investors came with large amounts of foreign currency. They bought a lot of bonds with this currency, and at that time for some reason the dollar fell in value. Some of the bonds are repaid, and some are restructured into new bonds; we are in debt all the time.
That is, money comes in, and those who already had bonds, and the time has come to repay them, at that moment they buy dollars at a low rate in order to take them abroad. This is a matter for investigation,” the expert added.
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