KIEV, Nov. 23 – The National Bank of Ukraine approved changes to its monetary policy that in the short term may lead to even faster depreciation of the hryvnia against the U.S. dollar.

The policy move, which comes days after a meeting between President Viktor Yushchenko and top officials at the NBU and biggest commercial banks, seeks to set official exchange rate based on daily forex trading.

The official exchange rate, which is used in tax settlements between exporters and the government, has been so far lagging behind the rates quoted on the forex market, making it less attractive for businesses.