The NBU Council has published recommendations to improve the situation on the currency market

The Board of the National Bank published a full list of its recommendations, approved January 17, to improve the situation on the currency market of Ukraine.

The document published on the website of the National Bank, writes «Finklub».

The NBU Board has proposed to continue to monitor the situation on the currency market and risks the stability of the hryvnia, in particular regarding the achievement of the inflation target, national Bank and financial stability.

Secondly, the NBU should conduct a detailed analysis of the dynamics of seasonal factors on the level of demand and supply of foreign currency on the interbank market and to develop a defense mechanism to smooth out fluctuations associated with these seasonal factors.

To better smoothing of shocks, and considering the need to increase international reserves, the NBU is recommended to use different forms of currency interventions

Fourth tip — to pursue an active communication policy, aimed at explaining to the public the reasons for the fluctuations in the currency market and the logic of the reactions of the NBU given the fact that the Main principles of monetary policy for 2017 and medium term are determined using a floating exchange rate regime hryvnia.

There is a joint recommendation of the NBU and the Cabinet:

— to forecast the volume of public income and expenditure of the Treasury single account (TSA);
— use of active management of stock in the TSA due to an active policy of attracting on the domestic market;
— to take measures for uniform VAT refunds during the year and during each month;
— to handle the question whether the introduction of medium-term forecasting of CEN;
to accompany the committees of the Verkhovna Rada the draft laws on banking activities and currency regulation.

Recall that for the first 13 days of 2017, the dollar rose on the black market from 28 to 28.9 hryvnia, and only last week the stir awake — today, the dollar sold at an average of 28.2 for the hryvnia. On Monday, the dollar already sell cheaper 28 USD.

Earlier, Prime Minister Vladimir Groisman said that the national Bank promised to stabilize the situation on the foreign exchange market and hryvnia exchange rate fluctuations are seasonal.

The NBU Council has published recommendations to improve the situation on the currency market 23.01.2017

Январь 23rd, 2017 by
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