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Agreements with Russia and China to help reduce tension on currency and monetary markets in Ukraine
20.12.2013 11:04 "Agro Perspectiva" (Kyiv) —
The economic agreements reached with Russia and China will help reduce tension on the currency and monetary markets in Ukraine, the Independent Association of Ukrainian Banks said in a press release on Thursday, NRCU reports.
«The announced investments in Ukraine’s real economic sector by Russia and China, the liberalization of the conditions for exports of some categories of Ukrainian products, and the expected inflow of foreign capital thanks to the sale of government securities could considerably support Ukraine’s hard currency reserves and cut the devaluation expectations,» reads the press release.
According to the Association, increased demand for foreign currency, which has been observed over the past two months, has resulted in an increase in the cash and cashless foreign currency exchange rates. The exchange rate fluctuations resulted from "uncertainty with regard to the stability of the national currency under conditions of the shrinking forex reserves. However, despite certain economic misbalances and the tense political situation that led to stronger devaluation expectations, the recent interstate agreements signed with Russia and China give reason for confidence in a stable exchange rate on the Ukrainian currency market, reads the press release.
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