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Ukrainian PM blames central bank for sharp devaluation of national currency |
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09:13, December 19, 2008 |
Ukrainian Prime Minister Yulia Tymoshenko on Thursday blamed the central bank for the hryvnia currency's fall to all-time lows against the U.S. dollar, calling for the dismissal of the bank's Chairman Volodymyr Stelmakh.
"The fall in the hryvnia's rate is linked to deliberate, speculative operations planned on Ukraine's currency market and organized with the support of the National Bank (the central bank)and certain commercial banks," Tymoshenko told a news briefing.
"I demand that the president of Ukraine put forward urgently a proposal to parliament to dismiss the head of the central bank and to remove the entire executive of the bank," Tymoshenko said.
The central bank has failed to slow the hryvnia losses of over 20 percent this week. The hryvnia was trading at around 9.5 U.S. dollars on Thursday against about 5.05 U.S. dollars at the beginning of this year.
Ukraine's parliament on Thursday decided to create an investigation commission to probe into the central bank's activities during the financial crisis.
Source:Xinhua
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