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The President had told why did the rate of hryvnia fall and how to strengthen it.

  • 07.10.2014, 07:17,
  • 0

The president of Ukraine Petro Poroshenko together with representatives from all branches of government and the Head of National Bank of Ukraine promise to do everything possible  to stabilize the rate of national currency. It was announced during his press-conference in Kiev. According to the head of a state, rate depends on several factors, among which are poor market conditions for main Ukrainian export products. He stressed out that prices of grain (the main export product of Ukraine) came down for 40 % and for 50 % on metal products. At the same time he admitted that industrial capacity of the East stopped all the export because of a war. “There are no foreign investments in a country in the war time so the dollar exchange rate is a natural reflection of this process. But not only this is the reason” he said. According to President there is a real internal war on a currency market of Ukraine. “Somebody is waging a war inside a country aiming to derogate country’s stability and stability of exchange rate” Poroshenko said. “That is why all branches of government together – the head of The Nation bank, Prime minister, speaker of Parliament and President have to coordinate their efforts and make everything to stabilize hryvnia, to protect it and citizens of a country from inflation and instability. I assure – I am goind to do anything possible to stop the attack on hryvnia, to stop speculation, to stop attempts to create panic especially by illegal traders and to bring the stability back on a market” – President marked. He also stressed that to do this we need to implement a reform package “Strategy 2020”. He believes that maintenance of stable exchange rate is also a way of protection of a country and its citizens. 

Prime-minister Arseniy Yatsenyuk already stressed that Ukraine is not going to declare a default and leaps in exchange rate are the result of market’s panic and gambling on it.

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