Finance ministry does not see preconditions for hryvnia devaluation in 2012-2013

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Sept. 12, 2012, 2:10 p.m. | Ukraine — by Interfax-Ukraine

No reasons for hryvnia devaluation, Finance Ministry says.

Finance Minister Yuriy Kolobov does not see preconditions for a devaluation of the national currency's exchange rate against the U.S. dollar this year and next year.

"I don't think that next year and this year, as many experts forecast, there will be any fluctuations," he said at a briefing on Wednesday.

Asked by reporters what national currency exchange rate to the U.S. dollar was used in the draft national budget for 2013, which was approved at a cabinet meeting on September 12, 2012, the minister said that the dollar exchange rate was not specified.

"We took [as a basis] the macroeconomic growth forecasts that the Economic Development and Trade Ministry submitted to us," he said.

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