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Bankers Advise To Keep Money In Hryvnias (12:07, Wednesday, March 26, 2008)

Bankers advise to keep money in hryvnias.

Erik Naiman, who heads the department for issuance of financial instruments at Ukrsotsbank, advises to keep money only in national currency.

"For the people, who do not deal with currency speculations, it is better to keep their savings in hryvnias," he said.

Naiman also said that nothing will affect the stability of the hryvnia in the next two or three years, or even five, and that interest rates on hryvnia deposits are higher than those in dollars and euros.

His outlook is supported by deputy chairman of the management board of Finance and Credit Bank Ihor Lvov, who recommends keeping money in hryvnias and in gold.

"There is a principle: don't keep in one basket. I would recommend keeping savings in national currency and in gold. The most stable currency that has risen three times over the past few years is gold," he said.

Lvov noted that the Chinese yuan is quite a stable currency too and that banks have plans to import it in the near future.

Yevropeiskyi Bank chairman Vladyslav Astapenko advises to take a pause and exchange no currency at the moment.

"To make no hasty actions. To remain as you are. The best way is to keep the money until the end of [deposit] term," he said.

Astapenko added that the hryvnia will be the best choice for deposits in the future.

"Forecasts for euro vary a lot. As for the national currency, I prefer to keep [money] in hryvnias. Incomes in national currency are higher than incomes in other currencies," he added.

As Ukrainian News earlier reported, the cash sell rate for US dollars in Kyiv-based bank exchange offices rose by 0.39 kopeck to 4.9476 UAH/USD on Tuesday as of 10:30, compared with data as of 09:30, and the buy rate fell by 0.54 kopeck to 4.7729 UAH/USD.

The National Bank maintains the official currency rate at 5.0500 UAH/USD.



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