The Prime Minister of Ukraine Denis Shmigal says that he does not discuss with the leadership of the National Bank of Ukraine the rate of 30 hryvnia per dollar and the stimulation of inflation. “Such issues are not discussed with the central bank. The National Bank conducts its own monetary policy. We are interested in the development of industry, we are interested in investments, but this is not a subject of discussions about a special issue of funds, and not a subject that the rate should be artificially understated or overstated.
The exchange rate is regulated by the market, “said Shmygal during a working trip to the Poltava region, answering a question from the Interfax-Ukraine agency, and discussing with the leadership of the central bank the need for a rate of 30 hryvnia per dollar. The President of Ukraine Volodymyr Zelenskyy believes that due to the overvalued, in his opinion, the hryvnia exchange rate against the US dollar, Ukrainian enterprises “lost millions and closed”. “How can we live, even if our budget is calculated at the rate of 30, and the hryvnia, you see what we have,” the head of state said at a meeting with business representatives of the Chernivtsi region on July 8.
The national currency was in a wide corridor of 26.5-27 hryvnia per dollar for more than two months – from late April to early July. On July 1, the announcement of ex-NBU head Yakov Smoliy about his resignation through political pressure on him caused an increase in quotations to 27 hryvnia 20 kopecks per dollar and even higher. After Kirill Shevchenko was appointed Chairman of the NBU in mid-July, the devaluation of the national currency accelerated.
Over the past several sessions, the regulator has shown new benchmarks to market participants – the NBU sold more than $ 300 million last week at a rate slightly lower than UAH 28 per dollar. The interbank market now finds the lower parameter of the new corridor without the active participation of the National Bank.