Will the hryvnia exchange rate return to the pre-war level? Hetmantsev answered

There will be no return of the hryvnia exchange rate to the pre-war level. But there are also no prerequisites for further significant depreciation of the national currency. This opinion was expressed by People’s Deputy and head of the Committee on Finance, Tax and Customs Policy Danylo Hetmantsev in an interview with Ukrainian News.

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“I don’t see grounds for a significant drop in the rate, but I also don’t see grounds for the rate to return to the pre-war period. That will not happen,” he said.

Hetmantsev noted that at the end of last year, real inflation in Ukraine amounted to 26%, and this indicator “is no longer recovered.” At the same time, inflation turned out to be less than predicted and comparable to some European states, says the People’s Deputy.

“Having fixed the course at the beginning of the war, we minimized the development of the devaluation-inflationary spiral. According to the results of the first war year, we have preserved relative macro-financial stability, which is ensured by adequate gold and currency reserves of the National Bank and a lot of help from our partners,” Hetmantsev said.

See also: Economy of Ukraine 2023: How to adapt to reality, where to invest, exchange rate (video)

According to the head of the financial committee of the Verkhovna Rada, the ongoing war in Ukraine will exert pressure on the exchange rate of the national currency. But if the international financial aid continues to flow in the same amount, then, according to Hetmantsev, there will be no strong prerequisites for a significant correction of the official course.

Author: News editor Roman Myronchuk writes on the following topics: Economy, finance, banks, cryptocurrencies, investments, technologies

Source: Ministry of Finance

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