KIEV, Dec. 16 (Xinhua) -- Governor of the National Bank of Ukraine Yakiv Smolii said the strengthening of the national currency is positive for the economy and helps to decrease the inflation, the Ukrainian government's website reported on Monday.
Smolii made the remarks during his meeting with Ukrainian Prime Minister Oleksiy Honcharuk, adding that the strong currency might have some negative impact in the short term.
Smolii also pointed out that the strong currency generates savings in terms of costs of foreign currency borrowing and debt servicing, as well as of government purchases of imported goods like medicines. Besides, a strong Ukrainian hryvnia contributes to reducing the cost of energy.
Ukraine's hryvnia hits a record high of 23.49 to the U.S. dollar in four years as the National Bank of Ukraine sets the official exchange rate for Tuesday.
