The National Bank will ensure the "stability" of the currency market by 2025. The exchange rate of the dollar "will not skyrocket". TSN reports. This was stated by Kontrakty.UA.
The head of the NBU, Andriy Pyshny, made this statement in an interview with the "We are Ukraine" TV channel.
According to him, the NBU does not provide forecasts for the exchange rate. Pyshny noted that the rate "set by the state budget is not a goal for the National Bank and has never been".
"The stability of the currency market is our goal. Returning to the mode of functioning of the currency market with maximum market mechanisms of supply and demand is also our aim," emphasized the head of the National Bank.
He reminded that at the onset of full-scale invasion, the NBU was forced to abandon the floating exchange rate and inflation targeting. However, in October 2023, a decision was made to abandon the fixed exchange rate and move to a regime of managed flexibility.
He stated, "It was important for the exchange rate to start functioning as a shock absorber rather than a generator, and this is currently happening".
"To sum up all these complex matters in one sentence, I can say: 'Don't expect us to let the hryvnia soar into space'," said the head of the NBU.
Additionally, Pyshny explained that an important component of currency stability is the fact that gold and foreign exchange reserves will exceed $43 billion by the end of 2024 and will stand at about $41 billion by the end of 2025.
It is worth noting that the director of the investment company Dragon Capital, Tomas Fiala, assessed whether the dollar could rise to 46-47 UAH as early as next year. Specifically, according to him, the NBU benefits from keeping the exchange rate sufficiently stable.