Igor Mazepa, Concorde Capital CEO, about UAH exchange rate behaviour

Igor Mazepa, investment banker, CEO and owner of the Concorde Capital investment company, comments UAH exchange rate behaviour

Igor Mazepa, investment banker, CEO and owner of the Concorde Capital, leading Ukrainian investment company, comments about opinions of Concorde analysts on UAH exchange rate behaviour.

Concorde Capital’s analysts believe that the current depreciation of Ukrainian national currency is a result of the senior management reshuffle at the National Bank of Ukraine, - comments Igor Mazepa. Another factor - President’s statement that the economy of Ukraine suffers losses because of a mismatch between the current exchange rate and that indicated in the national budget – also had an impact on UAH rate, - comments Igor Mazepa.

Initially, the UAH exchange rate dropped sharply amid the resignation of the National Bank Governor Yakiv Smolii, who stated as a reason for his resignation a growing political pressure on the National Bank of Ukraine. The exchange rate started rising again after Kyrylo Shevchenko was appointed the new National Bank Governor. Thus, Concorde Capital’s analysts expect that the information landscape will shape the UAH exchange rate behaviour in the nearest month, - summarizes Igor Mazepa.