Currency Policy of NBU Proves Unwarrantable
OREANDA-NEWS. On March 31, 2009 The Prime Minister of Ukraine Yulia Tymoshenko declared the present currency exchange rate is groundless in Ukraine. She informed on air of the Freedom of Speech program on ICTV channel.
“The proper currency rate for today is 6.5-7.00 UAH against USD at most,” Yulia Tymoshenko emphasized.
According to her, the crisis and unskillful policy of the National Bank of Ukraine have led to tumble of the national currency in Ukraine, which in its turn entailed worsening of inflation processes and respectively soaring of prices for imported goods.
The Premier underlined the Constitution places responsibility for the economic situation within the state on the Government but, at this, doesn’t provide with necessary instruments to influence the currency policy of the NBU: “The Government is banned from intervening in the activity of the NBU. We are afforded just to observe the policy of the National Bank”.
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