KIEV, April 12 ??“ The National Bank of Ukraine believes there are ???no reasons??? for the hryvnia, the local currency, to lose value against the U.S. dollar, NBU Governor Volodymyr Stelmakh said Wednesday.

The hryvnia has been under major downward pressure since early January forcing the NBU to intervene and to spend about $2 billion from its reserves in the first quarter to prop up its value.