The National Bank of Ukraine (NBU) has a floating exchange rate policy, and the hryvnia is not specifically held. This was stated by a member of the board of the regulator Vasily Furman.
“On the eve of the elections, I hear many opinions of various experts that the exchange rate is specifically held until the elections … I would like to responsibly declare that no one is supporting hryvnia Ukrainian especially. The National Bank has a floating exchange rate policy. According to this policy, the hryvnia exchange rate is determined by the market,” he said.
According to a member of the NBU council, the financial institution can either sell the dollar to maintain the hryvnia exchange rate so that there are no significant fluctuations or buy it back to replenish the gold and foreign exchange reserves.
“Last month, the National Bank bought approximately 700 million dollars from the market to replenish foreign exchange reserves. Therefore, there will be no hryvnias (fall of hryvnya),” Furman said.