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Hryvnia won’t be revalued, Central bank board says

May22200822:42

At its May 22 session, Central bank’s supervisory board vetoed the decision by Central bank’s board of directors on hryvnia revaluation, The Ukrayinska Pravda quotes supervisory board member Vasyl Horbal as announcing.

The decision to revaluate the hryvnia was approved by all directors, save for the head of Central bank, Volodymyr Stelmakh.

Comment by ZiK

According to UP earlier report, the Central bank lifted the hryvnia’s dollar peg for the first time in three years and strengthened the hryvnia by 4% to UAH4.85 per $1. Hryvnia has strengthened on the interbank currency exchange since the start of 2008 by 5.8%.

In Wednesday trading, the hryvnia went up to 4.5 – 4.6 per 1 dollar from 4.63 – 4.67 per 1 dollar on Tuesday.

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