KYIV, Sept 30 – Ukraine’s local currency, the hryvnia, is not under threat of devaluation despite recently facing some downward pressure on the cash market, Yuriy Heletiy, Deputy Governor of the National Bank of Ukraine, said.

He said that massive volume of foreign exchange transactions in trading between banks has helped the NBU to increase purchases of hard currency to boost its reserves.

"There are no grounds for a new exchange rate correction now," he said in an interview with Interfax-Ukraine.