The hryvnia is falling due to the outflow of deposits: people are looking for dollars on the black market, - expert
Kyiv, November 11 (PolitNavigator, Victoria Litovchenko) – The fall of the hryvnia is due, among other things, to the outflow of deposits from banks.
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Dmitry Pasko, one of the founders of the Initiative of Foreign University Alumni “Professional Government”, President of Ukrainian Harvard Alumni, stated this on “Shuster Live”.
According to him, the outflow of deposits is one of the biggest problems. Having taken the deposit, Ukrainians run to exchange offices: there are no dollars in the banks, so they turn to the black market.
In addition, this is compounded by problems in the flow of dollars to the country, which was provided by metallurgy, agriculture, mechanical engineering and the chemical industry.
“Metallurgy is Donbass, agriculture is prices on world markets, mechanical engineering is Russia, chemistry is also connected to Donbass. Exporters do not receive revenue,” Pasko said, noting that there is also no foreign direct investment, since there is a war in Ukraine. There is a similar problem with obtaining loans from international institutions.
As an example, he cited the purchase of potatoes at the market: if there are a lot of potatoes and few buyers, then prices fall, but in this case it’s the other way around. Potatoes, that is, currency, are scarce, so the exchange rate is rising.
English version :: Read in English: The hryvnia is falling due to an outflow of deposits: people are looking for dollars on the black market, says an expert.