The official exchange rate of the American currency has exceeded the 45 UAH mark for the first time
The National Bank of Ukraine does not provide forecasts regarding the dollar reaching the 50 UAH mark in three months, as the American currency has broken its historic high of 45 UAH. Deputy Governor Volodymyr Lepushynskyi emphasized that the exchange rate is not skyrocketing, while the key priority remains returning inflation to the 5% target. This was reported by Glavcom citing the Telegram channel of Novyny.LIVE, according to the portal PromPolitInform.
In October, the American currency in Ukraine crossed a psychological threshold and set a new historic high. Specifically, the official dollar exchange rate was set at 45.0564 UAH per $1, and for the first time, the cost of the foreign currency exceeded 45 UAH.
Official exchange rate and NBU plans
The regulator does not forecast specific numerical values for the national currency for a defined period. The central bank emphasizes that attention is focused on other macroeconomic indicators and market stabilization.
NBU Deputy Governor Volodymyr Lepushynskyi commented on the possibility of further hryvnia depreciation and a sharp leap in quotations. “Based on all the practice that the National Bank has carried out in the currency market, we can definitely say that the exchange rate does not fly into space,” stated Volodymyr Lepushynskyi.
Inflation targets
The main task of the central bank is to return inflation to the target level of 5% and keep it near this indicator thereafter. Achieving the set goal should help preserve the purchasing power of the hryvnia.
At the same time, such measures are aimed at creating more predictable conditions for the activities of citizens and businesses. The regulator continues to maintain price stability in the country’s economy without tying it to speculative expectations regarding specific exchange rates.
Photo: Glavcom
