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Wednesday, February 14, 2007

Bank Forecast : 2010 hryvna will be convertible

There is expected until 2010 Ukrainian hryvna become fully convertible currency, although the final decision for the Board of the National Bank of Ukraine (NBU) and the government. This point of view was from Alexander Savchenko , Vice-President of NBU. According to him, NBU is ready to develop all the necessary legal documents, but convertibility depends not only on Ukraine, but on the state of the economy, as well as economic policy.

He added that, "in general, in Ukraine, all the prerequisites for convertibility does have : State finance, gold reserves and the economy growing, and have to raise the question of currency convertibility; it is, we already convertible on current transactions, not only capital transactions".