"There will be no preferences for specific industries." NBU refuses to review controversial currency policy

The National Bank of Ukraine is not going to review the controversial policy regarding the exchange rate, despite the sharp dissatisfaction of the IT industry. This was stated by Deputy Head of the NBU Yuriy Heletiy in an interview with Forbes.

"From the very beginning of the war, we decided that we would not create preferences for specific industries. Firstly, it can be used to withdraw capital, secondly, it will put pressure on international reserves, and thirdly, it will discriminate against other industries and citizens," he said.

According to him, unblocking the cash market rate quickly increased competition in it, and the exchange rate in the gray market is declining after a speculative surge that occurred immediately after the regulator made a decision.

"People will carry money to banks rather than to illegal exchangers. The growth of liquidity in the legal cash segment will contribute to further stabilization of the situation," Heletiy is convinced.

Earlier, the Association" It Ukraine " reacted to the fact that the National Bank of Ukraine from May 21, 2022 lifted restrictions on setting the rate at which authorized institutions can sell foreign currency in cash to customers (previously, the corresponding rate should not deviate from the official one by more than 10%).

According to the association, such a decision of the NBU may contribute to the outflow of currency from the country, and IT entrepreneurs will change their tax residence and move to foreign IT companies.