Lyubov Kirilyuk
April 09 2022 15: 34
Headings: News Economy

The dollar is going to be frozen until the end of martial law

This was announced by the Deputy Head of the National Bank of Ukraine

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The dollar is going to be frozen until the end of martial law

The National Bank of Ukraine is going to freeze the dollar at around 29,25 hryvnia/dollar. This was stated by the Deputy head of the NBU Sergey Nikolaychuk on the air of the All-Ukrainian telethon.

Nikolaychuk notes that the course will remain as it is now, until the end of the war. After that, it will vary according to the usual market laws.

“And then, after our victory, we will gradually return to the usual floating exchange rate regime. We will gradually remove administrative restrictions and reduce our participation in the market. But this transition of the resumption of standard work and the resumption of the monetary policy of the National Bank will be very gradual in order to avoid sharp shocks,” informs the deputy head.

Recall that the dollar exchange rate of UAH 29,25 was fixed on February 24, on the first day of the war. It was then that the National Bank limited the ability to withdraw money from accounts. The maximum that a user can receive from the card is 100 hryvnia per day. This is done so that the national currency does not depreciate.

Most likely, even after the end of martial law, Ukrainians will face strict restrictions in terms of financial manipulations. Otherwise, the domestic economy may face serious shocks. However, one should prepare for the fact that the dollar and the euro will jump. According to analysis Ministry of Finance, the dollar will fluctuate between UAH 32,5-45, and the euro will stop at around UAH 35,43 to 49,95.

Head of the NBU Kirill Shevchenko in conversations with journalists he does not undertake to predict what the exact course will be, since, according to him, it depends on many factors. "But I can confirm that after the normalization of the situation, the full operation of the foreign exchange market will be restored as soon as possible," he adds.

We previously reported that in Ukraine, hryvnia deposits have increased significantly, while foreign currency is losing its popularity. 

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