Bankers do not rule out the revaluation of the Ukrainian national currency, the hryvnia, by the National Bank of Ukraine (NBU).
"The NBU says it doesn't want to do so yet, but I don't think I believe this. This inevitable event shall take place," Erik Naiman, the financial instrument issue department at Ukrsotsbank, said.
He said the hryvnia might strengthen to 4.95 UAH/USD.
Naiman said the dollar weakened on the cash currency exchange market and that indicated preconditions for the hryvnia revaluation.
"There is deficit of the cash hryvnia. There may be a situation when banks will place posters saying 'No hryvnia available.' The holders of the dollars will be in rush to exchange the dollars at lower rates," he said.
Khreschatyk Bank Governor Dmytro Hrydzhuk said there was a tendency on the cash currency exchange market for the revaluation of the hryvnia.
"The analysis of the reaction of the cash exchange market shows that the hryvnia will strengthen and the dollar will fall," he said.
He said it was the competence of the National Bank of Ukraine to make final decisions on the issues of the exchange rate.
"If the dollar is falling in the world, it is not correct not to react. There must be some changes. The size of the changes depends on the national bank," he said.
Bank NRB Governor Vladislav Kravets said large evaluation of the national currency would be not good for the national exporters and extend the foreign trade deficit.
"Our trade position is bad enough already - we import more than export. In the event of the revaluation, exporters will face even worse environment. The situation is difficult here. A comprehensive analysis is needed. Those will be difficult steps for the National Bank of Ukraine to make. It is hard to say whether or not it will make them," Kravets said.
As Ukrainian News earlier reported, on March 18, the National Bank of Ukraine's executive director of bank supervision, Oleksandr Kireiev, said the NBU considered it inappropriate to strengthen the hryvnia now.
The National Bank of Ukraine strengthened the hryvnia by 14 kopecks to 5.0500 UAH/USD on April 21, 2005, and has preserved this exchange rate since then.
Press conference with Situations Modeling Agency entitled "Earlier Kharkiv elections: possible consequences and prospects for participants of electoral process"
