The National Bank of Ukraine (NBU) is not ruling out the possibility that the revaluation (strengthening) of the hryvnia that is presently taking place will be replaced by devaluation in 2009.

The bank's First Deputy Chairman Anatolii Shapovalov announced this to journalists.

Shapovalov said that this was most likely to take place in 2009 if the current prices of imported natural gas remained and if there were no political crisis.

Moreover, according to him, the expected good crop harvest is also a positive factor from the viewpoint of the strengthening of the hryvnia.

According to the NBU, the market should be ready for changes in the hryvnia's exchange rate: for a stronger as well as for a weaker hryvnia.

The board of the National Bank of Ukraine plans to make a decision on introduction of a more flexible exchange rate within the next few days.

As Ukrainian News earlier reported, the International Monetary Fund has repeatedly called on the National Bank of Ukraine to implement a more flexible currency and exchange-rate policy.

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