In Ukraine, since the beginning of the full-scale military aggression of the Russian Federation, the official exchange rate of the dollar has been fixed by the NBU at the level of UAH 36.56. But it won't always be like this. Deputy Chairman of the National Bank of Ukraine Yuriy Heletiy told Channel 24 when Ukraine can return to a flexible exchange rate.

When will the dollar float again?.

He stressed that there is no reason to change the course regime now.. The fixed exchange rate still plays a significant role in the country's economy.

Heletius noted that before the start of a full-scale invasion, a floating rate was a priority. However, in the future they will try to return it further..

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“We do not change our plans and do not hide. At the same time, we have always stressed that the return to more flexible exchange rate formation will happen gradually, when the right conditions are in place.. Such a transition, first of all, should not create shocks for the foreign exchange market and inflation, on the contrary, it should be useful for the economy,” the expert said..

What are the requirements of the IMF.

Ukraine has signed a memorandum with the IMF and should develop a strategy that will determine the steps to liberalize foreign exchange restrictions, return to a more flexible exchange rate regime and inflation targeting. This should happen by the end of June this year..

“In detail, mitigation, the abolition of currency restrictions or changes in regimes will occur gradually, without reference to specific dates,” Gelety explained..

What are the prerequisites for the return of the floating exchange rate.

The prerequisites for the return of the flexible exchange rate are:.

Reducing the sensitivity of the foreign exchange market to situational factors.

Improving the balance in the foreign exchange market (correlation between supply and demand).

Mitigation of a number of currency restrictions, in particular to minimize the multiplicity of exchange rates, expand access to the foreign exchange market for participants to carry out business activities.

Ensuring a sustained and close-to-projected path of inflation decline, which should become a new anchor for expectations instead of a fixed rate.

One of the most important is the efficiency, effectiveness of the discount rate as the main monetary instrument..

Earlier we wrote whether it is worth buying dollars and what price experts predict until the end of 2023.