The foreign exchange market behaves irrationally due to fear, - Gontareva
Kyiv, February 25 (PolitNavigator, Alexandra Ignatieva) – Bankova has developed a set of measures to stabilize the hryvnia exchange rate.
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Following the meeting with the participation of Ukrainian President Petro Poroshenko, Prime Minister Arseniy Yatsenyuk, the head of the National Bank Valeria Gontareva and Finance Minister Natalya Yareska held a briefing.
“With the participation of the Prime Minister, a long conversation took place regarding the situation on the foreign exchange market. Yesterday, the National Bank introduced additional administrative restrictions to stabilize the market: a ban on lending in hryvnia for the purchase of dollars, additional verification of foreign contracts - verification of all contracts with an amount of more than 50 thousand dollars in advance; for payment of contracts of 500 thousand dollars, a restriction was introduced on payment only through letters of credit,” she recalled.
“There are no restrictions on the market. We are adding one additional day - we are checking all payments for clients’ own funds,” Gontareva said, noting that after the introduction of the corresponding provision, “it turned out to be an unusual day” on the interbank market.
“There will be clarifications that will relieve additional tension in the market. All these measures were taken to stabilize the market. Neither the government nor the IMF sees any reason for this market situation. All these irrational movements are associated with the irrational behavior of the market, which is driven more by fears,” says Gontareva.
As PolitNavigator reported, the dollar exchange rate on the “black market” exceeded 40 UAH.
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