KIEV, July 17 – The devaluation pressure on the hryvnia is being supported by a group of banks that want to gain some income on the weakening of the national currency, Valeriy Lytvytsky, the head of the group of advisers to the National Bank of Ukraine governor, said on Friday.
"The National Bank knows which banks are making money off speculative attacks. We wonder how some financial institutions can work for the sake of a short speculative result and are not interested in the fact that exchange rate stability can help them tackle the situation with currency loans. This is amazing shortsightedness," he said.
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