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To carry this out, the National Bank fosters the stability of the banking system and, within its competence, price stability.
Due to Art.51 of the law about the National Bank of Ukraine, the NBU is accountable for its activities to the Verkhovna Rada of Ukraine, the President of Ukraine and the Cabinet of Ministers of Ukraine Since the bank's establishment, the following statesmen were the Governors of the National Bank of Ukraine (initially the title of the position was the Chairman of the Board of the National Bank of Ukraine) ).
The National Bank of Ukraine has the power to initiate legislation.
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Like institutions of many newly independent nations, it faced dire financial straits during the 1990s, leading to a prolonged period of hyperinflation.
On March 20, 1991, the Verkhovna Rada (parliament) of Ukraine adopted the resolution "On Banks and Banking Activity", which became Law on May 1.) is the central bank of Ukraine – a government body responsible for unified state policy in the field of country's monetary circulation, including strengthening of national currency unit – hryvnia.