OREANDA-NEWS. Borys Tymonkin: “The whole monetary system in our country is based on USD. All proceeds, about 90% is in the American currency, reported the press-centre of Ukrsotsbank.

If it is USD base then nothing bad happens. If UAH rate was pegged to that of EUR, our currency would be stable against EUR and volatile against USD. There is no intrigue. Taking into account the foreign currency reserves which cover our entire monetary base in plenty, the National Bank decision as to UAH pegging to USD is rational.

In the future, whatever would they say, disasters can not be predicted. UAH is transferred into USD and vice versa in mechanical way. All of the Ukrainian national currency is secured by USD holdings. This is not due to monetary policy. The decision to keep reserves in USD related to balance of exporters and importers interests. That is why; I do not forecast any negatives because of this or fears as to USD rate fall against UAH after elections”.