Currency market in anticipation of NBU decision

The National Bank of Ukraine will publish today the decision to cancel some restrictions on the foreign exchange market. According to experts, the regulator may, in particular, to soften their demands for the mandatory sale of foreign currency earnings by exporters, and to review the ban on the purchase of currency for the payment of dividends. Meanwhile in the NBU explained weakening of the hryvnia by slight excess currency supply over demand. This situation  happened before, but through self-regulation of the market hryvnia initially fluctuated in a wide range of 21 - 23 and eventually went on the market with average rate - about 22 per dollar, the director of the Department of Open Markets of the NBU Sergiy Ponomarenko said. Most market participants attribute depreciation of the currency to approaching local elections, and payments to depositors of insolvent banks.