On Monday, August 8, decision No. 1053 of the National Commission on Securities and Stock Market (NCSM) came into force, which can lead to fraud on the stock market, which, in turn, will lead to a collapse of the hryvnia. This was stated by economic expert Alexei Kushch, reports Telegraf..

This decision canceled almost all restrictions imposed on February 24 on work in the capital and commodity markets.

The expert convinces that with this the National Commission gave the "

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In his opinion, the main schemes will be:.

purchase of foreign securities and withdrawal of capital abroad;

dumping of government bonds portfolios by non-residents with an acceleration of secondary returns on them to 25-30%: this level will then be “poked” under the nose of the Ministry of Finance as a kind of benchmark ((financial term meaning higher than the average market yield - ed.. )) and will require proof of initial placements to a similar yield level, which means an increase in the yield on government bonds to the level of 30% and the issuance of hryvnia;

operations with securities to enter the cash and drawing income for the "

All this, according to Oleksiy Kushch, will have an extremely negative impact on the hryvnia exchange rate and on the NBU reserves, and then through imports and on inflation..

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Simply put, wanting to withdraw their capital abroad, the business will begin to actively buy dollars, which causes an increase in demand for it and the dollar against the hryvnia will soar again.

To save hryvnia from devaluation, NBU will have to sell international reserves again, expert says.

Recall that earlier prices for Ukrainian Eurobonds fell almost to the level of the crisis end of February 2022. Then the depreciation of government securities was affected by the attack of the Russian Federation on Ukraine and the pessimism of investors about the future of our state.

The current downturn is likely driven by investors' realization that the war will be long and debilitating..

It is believed that the resumption of circulation of government securities as the main instrument of investment by participants in the capital markets will provide an additional resource for economic recovery. The resumption of transactions in these securities will also allow financial institutions to determine their market value..

The turnover of government securities was also resumed by the National Bank of Ukraine.