KYIV, Dec 7 – The National Bank of Ukraine (NBU), with the transition to managed exchange rate flexibility from October 3, initially focused on minimizing fluctuations to allow market participants to get used to the new regime, but then began to increase the amplitude of permissible fluctuations, Deputy Governor of the NBU Serhiy Nikolaychuk has said.

"With market participants getting used to exchange rate fluctuations and under appropriate macro-financial conditions, the National Bank allowed increasing exchange rate volatility. For example, the standard deviation of the percentage change in the exchange rate increased from 1.3% in October to 3% in November," the deputy governor of the central bank wrote in column in the epravda publication.