Business news from Ukraine

UKRAINIAN PARLIAMENTARY ELECTIONS WON’T AFFECT HRYVNIA EXCHANGE RATE

Parliamentary elections in Ukraine will not affect the hryvnia exchange rate, Governor of the National Bank of Ukraine Yakiv Smolii has said. “Double elections did indeed carry some risk expectations in the financial markets, but this absolutely did not affect the exchange rate in any way. It was formed by demand and supply and continues to do so now. The strengthening of the hryvnia was caused primarily by the factors of favorable conditions for our exports, as well as the inflow [of funds] of foreign investors in domestic government securities, which led to an increase in currency supply in the market and, consequently, to the strengthening of the hryvnia,” Smolii said at a press briefing.

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