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Poroshenko says agreement with IMF will help stabilize Ukrainian currency’s exchange rate

December 29, 2014, 18:53 UTC+3 KIEV
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KIEV, December 29. /TASS/. Ukrainian President Petro Poroshenko said on Monday he was sure Kiev’s agreement with the International Monetary Fund (IMF) will help stabilize the national currency’s exchange rate.

“I believe that the hryvnia exchange rate of 17-18-19 (hryvnias per one US dollar) does not reflect the real situation with the national currency’s purchasing power,” he told a news conference. “A major factor here is panic. The panic will fade away when an agreement is signed with the International Monetary Fund. In this event, investors will have more faith in Ukraine, which is to be facilitated by a package of laws passed by the parliament.”

On Monday, Ukraine’s National Bank fixed the hryvnia exchange rate at 15.76 per one US dollar. However one U. dollar is traded at 19 hryvnias on the interbank currency market.

A mission of the International Monetary Fund is to arrive in Kiev on January 8, 2015 to complete its work by the end of January.

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