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Thursday, December 14, 2017

Ukraine official says new measures helping to stabilize currency exchange rates

Administrative measures were the subject of National Bank of Ukraine First Deputy Gov. Oleksandr Pysaruk's meeting with the European Business Association on Friday.

The measures were put in place to curb damage to the economy from conflicts within the country and wildly fluctuating foreign exchange rates. To prevent capital flight schemes, Pysaruk asked business leaders to be patient with the temporary restrictions that Ukraine has put in place. He said the mixed approach to this has had some positive outcomes.

"The number of bids for the purchase of foreign exchange is gradually decreasing," Pysaruk said. "We see a decline in the spreads, even in the black market. We hope that in a few weeks' time, we will be able to meet the deferred demand for foreign exchange and reduce -- if not eliminate -- the size of the black market through joint efforts with the law enforcement bodies."

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National Bank of Ukraine 9 Instytutska St., Kyiv 01601

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