KIEV, July 19 – The postponement of a eurobond placement by Ukraine will not affect the hryvnia exchange rate, according to Valeriy Lytvytsky, head of the National Bank of Ukraine Advisors Group.

"[The postponement] cannot affect the hryvnia exchange rate, as the counter-factors are stronger," he said.

"First, the hryvnia is supported by currency reserves, and the prospect of a reserve inflow from international financial organizations is more influential that the prospect of the hryvnia weakening due to the non-placement [of the eurobonds]. Second, the hryvnia is supported not only by reserves - it is supported by an upward trend of labor productivity… [Moreover], inflation expectations have abated, [and] this is an additional argument in favor of hryvnia stability," he said.