KIEV, June 1 – There are no grounds for a significant strengthening of the hryvnia, as the country's economy has not reached proper due level of competitiveness, according to Oleksandr Arseniuk, the deputy director of the monetary policy department at the National Bank of Ukraine.

"The NBU is ready to react using such instruments as currency exchange rate in those cases when there are substantial reasons... Speaking about the increase of competitiveness of the Ukrainian economy to a level so that it becomes necessary to adjust the exchange rate towards appreciation, this is an open question," he said at a roundtable on Monday.