Level of dollarization of the Ukrainian economy has decreased in 2010 by 2,6 percentage points - NBU

The level of dollarization of the Ukrainian economy has decreased in 2010 to 2.55 percentage points - up to 29.13% according to a research report of the National Bank of Ukraine (NBU). "Estimate dollarization of the economy as of January 1, 2011 decreased to 29.13% compared to 31.68% at the beginning of 2010", - stated in the document. According to the report, stabilization of the functioning of the foreign exchange market, together with an improvement of the situation in the real economy have contributed to reduce the impact of devaluation factor on expectations of economic agents, leading to a gradual dedolarizatsii economy. However, according to the prospectus of eurobonds of Ukraine, the text of which agency "Interfax-Ukraine", level of dollarization of the country's financial system remains high, which increases the risks for the hryvnia exchange rate and contributing to the deterioration of asset quality of banks. According to a document prepared by the government on February 1, 2011 dollarization of the Ukrainian financial system amounted to 29,7%, whereas in 2010 - 29,1% in 2009 - 31,7%. Source material: Interfax-Ukraine