Consumers would suffer, there would be pressure on business, – Rozhkova on freezing the dollar


Consumers would suffer, there would be pressure on business, – Rozhkova on freezing the dollar

Rozhkova noted the difference between non-cash and cash dollar exchange rates/Collage of 24 channels

Since the beginning of the full-scale invasion, the NBU decided to freeze the dollar. Ekaterina Rozhkova is convinced that this was a necessary step so that end consumers and businesses do not suffer.

The first deputy head of the NBU spoke about this in an interview with Channel 24. At the same time, Ekaterina Rozhkova noted that it is necessary to separate the cash and non-cash exchange rates.

Fixing the dollar exchange rate helped to stabilize the economy

Recall that the NBU < strong>fixed the dollar at the level it was on February 24.We are talking about 29.25 hryvnia per dollar for non-cash transactions.

Ekaterina Rozhkova noted that this allowed to fix the rate of export-import operations. She cited a farmer as an example. He needs to buy fertilizer. And he can do it at the rate of 29.25 + 1%, if it is a cashless payment.

The same applies to importers delivering critically needed goods to Ukraine. We are talking about fuel, medical supplies, etc. They also import them at the rate of 29.25 hryvnia. Accordingly, Ukrainians buy all this at the old rate, fixed on the first day of a full-scale invasion. because they buy all these goods. It would also put pressure on businesses, because employees would probably ask for higher salaries, Rozhkova stressed.

International reserves lost part of regular income

Ekaterina Rozhkova noted that at present the international reserves of our state have lost a significant part of the proceeds. And there is simply nothing to replace them. So we have to cut costs.

To do this, it was necessary to introduce a list of critical imports, as well as to prohibit the sale of non-cash currency to Ukrainians. And this situation, according to the first deputy head of the NBU, will continue until there is some stabilization in our country.

We are talking about resuming exports.In addition, our economy should receive at least some regular income. For example, now the Ministry of Agriculture and the government are working to expand the capabilities of exporters. Once this can be achieved, it will be possible to generate more revenues and stabilize the market in the country.

In addition, Ukraine should return duties on imported goods. This will push to reduce demand for imports. Inflows to our reserves will increase, but the leakage from them will somewhat decrease.

Inflation may reach 20%

Ekaterina Rozhkova also noted that this year inflation in Ukraine may reach the mark in 20%. So the increase in prices that Ukrainians are now facing will not stop.

Therefore, the NBU made a number of decisions that will help curb price increases. This is a fixed non-cash exchange rate, and fixing prices for housing and communal services, and increasing the discount rate on deposits and bonds.

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