Speaking in a live link-up with London, which is hosting the international conference “Invest in Ukraine" today, First Deputy Governor of the National Bank of Ukraine Oleksandr Pysaruk said that joint efforts by the National Bank of Ukraine and Ukrainian banks had succeeded in halting the negative trends in the foreign exchange market.

“This morning the hryvnia exchange rate in the interbank foreign exchange market was UAH 12.40 – 12.90 per US dollar. The National Bank intends to maintain the rate at this level in the coming weeks," he said, adding that both objective and subjective factors, including the ongoing hostilities in the east of Ukraine and related to them attempts to foment panic among the public, were taking their toll on the foreign exchange market.

Mr Oleksandr Pysaruk also reminded that in order to stabilize the situation in the foreign exchange market that regulator had been forced to extend for three months the requirement for mandatory sale of foreign exchange proceeds and increase the amount of foreign currency proceeds subject to mandatory sale to 100% (NBU Board Resolution No. 515, dated August 20, 2014 “On measures to put the foreign exchange market back on track").

According to him, this measure is temporary and will remain in force for three months. Should the situation in the east of Ukraine stabilize and, accordingly, should the speculative demand for foreign exchange subside, the regulator may ease or repeal this requirement earlier than scheduled.

Mr Oleksandr Pysaruk noted that in 2014 Ukraine's economy was going through turbulent times. Yet, despite this, Ukraine has enormous investment potential.