February 7, 2014 / 8:57 AM / 4 years ago

Ukraine's central bank plays down currency fears, says strains temporary

KIEV, Feb 7 (Reuters) - Ukraine’s central bank said on Friday strains on the country’s currency market were only short-term and high demand for foreign currency was only temporary, playing down concerns that the hryvnia was in serious trouble.

Governor of the National Bank of Ukraine, Ihor Sorkin, told a news conference: “There have been strains on the currency market recently, but we are sure this is only a short-term trend.”

Head of the bank’s monetary policy department, Olena Shcherbakova, said the bank would continue to intervene in the currency markets and the exchange rate for the hryvnia was “adequate” at the moment.

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