NBU Extends UAH Falling Corridor
OREANDA-NEWS. On October 08, 2008 The National Bank of Ukraine (NBU) increased forecast UAH index by late 2008 to UAH 4.95 for USD 1 plus or minus 8%, Chairman of NBU Council Petro Poroshenko claimed.
"We are convinced that the board has enough instruments to ensure the official rate of the national currency within forecast indexes we approved," Poroshenko said.
Besides, decision of the Council took into account recommendations of the Board. The recommendations advise drawing the market rate near the official one. And we consider that these indexes under the conditions of current economic situation are possible to keep by late 2008, he noted.
He said that currency market demonstrates significant exceeding of UAH rate.
Poroshenko claimed that NBU has enough instruments to strengthen UAH rate, in particular, usage of liquidity contraction, cooperation with the Ukrainian government within the anti-inflation memorandum.
Let us recall, earlier NBU set UAH rate index against USD at the level of 4.85 plus or minus 4%.
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