The National Bank of Ukraine (NBU) is considering the possibility of replacing the main exchange rate currency from the American to the European one, which, apparently, will not happen earlier than in 3 years.
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Photo – rbc.ua
As reported by NBN with reference to the official YouTube channel of the NBU, the head of the bank-regulator Andriy Pyshny announced that the implementation of the above-described decision is still quite a long way off.
Based on Pyshny's words, the NBU intends to approach the implementation of this plan in a comprehensive manner, and various options are currently being assessed and analyzed. In particular, the “issue of re-pegging” the hryvnia from the dollar to the euro is not at the final stage.
Also, Deputy Head of the NBU Yuriy Heletiy added: at the current moment, the share of settlements in euros in imports is 50 percent, in exports – 30 percent, and in the domestic cash market – from 22 to 23 percent.
Thus, only a further expansion of the euro's share will allow the discussion concerning the change of currency to be updated. In addition, it is necessary to take into account that such an issue will probably become more relevant in the context of the approaching European integration and against the background of a potential freeze of Ukraine's international reserves by the US administration.
Earlier we wrote that the NBU showed an updated profitability rating of Ukrainian banks.