KIEV, Jan. 22 – The medium devaluation of the national currency of Ukraine projected in the national budget for 2013 - to UAH 8.30-8.40/$1 - will not have a major impact on the banking system, the Independent Association of Banks of Ukraine (IABU) reported.

Since 2008, the banking system has obtained a certain immunity to medium-sized exchange rate fluctuations, according to the report.

Over the period, the volume of the currency compound of the credit portfolio has considerably reduced by 20.8 percentage points, to 39.5% and that of liabilities by 8.9 percentage points, to 50.1% as of October 1, 2012, reads the report of the association.

Despite the retaining of currency risks at some banks, the banking system as a whole is able to better resist the exchange rate fluctuations than three years ago.