Igor Mazepa, investment banker, CEO and owner of the Concorde Capital, leading Ukrainian investment company, comments about opinions of Concorde analysts on prospects of the UAH exchange rate in the nearest time.
At Concorde Capital investment company, we believe that the recent depreciation of Ukrainian national currency was a result of the senior management reshuffle at the National Bank of Ukraine, - said Igor Mazepa. Moreover, the President has stated that the economy of Ukraine suffers losses because of a mismatch between the current exchange rate and that indicated in the national budget. This statement has also had an impact on UAH rate, - says Igor Mazepa.
Initially, the UAH exchange rate dropped sharply amid the resignation of the National Bank Governor Yakiv Smolii, who stated that the reason for his resignation was a growing political pressure on the National Bank of Ukraine. The situation aggravated as the President said that the current UAH exchange rate (which was too low according to his opinion) adversely affected the economy of Ukraine. The exchange rate started rising again after Kyrylo Shevchenko was appointed the new National Bank Governor. Therefore, Concorde Capital’s analysts assume that the news will shape the UAH exchange rate behaviour in the nearest future, - summarizes Igor Mazepa.