KIEV, Jan. 16 – The increased volatility on the interbank foreign exchange market this week is caused by the put-up demand for currency, which formed over the holidays, according to Olena Scherbakova, the director of the general department for monetary and credit policy at the National Bank of Ukraine.

"Now the situation is not a concern. We have nothing to fear," she said in brief comments to journalists.

"In fact, the market had not been working for two weeks. There is the moment that contracts were not paid, that means that the put-up demand influenced the situation," the experts said.