NBU to remain on currency market, says adviser to NBU head

16:52

The small exchange rate fluctuations seen on the currency market confirm that there is a floating exchange rate, while the National Bank of Ukraine (NBU) continues successfully tackling the task of preventing excessive volatility of the market, Head of the NBU Advisers Group Valeriy Lytvytsky has said.

According to Lytvytsky, seasonal factors like inflation of August and the new session of the Verkhovna Rada could influence the situation, as the market should respond to such changes through some fluctuations.

"But these fluctuations are not stressful. None of the changes go beyond the limit of 0.5%," the head of NBU advisers group said.

According to him, the NBU has adequate reserves and is ready to sell currency only when the market is not able to mange independently to meet demand for purchase, although the intervention of the NBU has seldom been needed recently. Interventions of the central bank totaled $79 million on Tuesday, he said.

"Even if you see slight fluctuations don't worry - the NBU will not leave the market, and will sell currency only when it sees that the market is reaching dangerous limits," Lytvytsky said.