OREANDA-NEWS. On February 20, 2008 Ukrainian Finance Minister Viktor Pinzenyk said it is inexpedient to strengthen the exchange rate of the national currency (hryvnia), reported the Official website www.kmu.gov.ua.

The Minister emphasized that, from the beginning of the year, the National Bank of Ukraine sold in the interbank forex market about USD 300 million, adding that the government is not aiming at strengthening the hryvnia rate.

"Making a certain exchange rate is not a goal in itself. It is just an instrument to be used under certain circumstances. Now I do not see any need for that," he said.

In counting corrections to the 2008 national budget, the finance ministry proceeded from the average annual exchange rate of UAH 4,95 - UAH 5,25 / USD 1.

On February 18, National Bank Governor Volodymyr Stelmakh pointed to the reasons for strengthening the national currency rate.