The National Bank Council on June 30 revised its forecast for the average annual hryvnia exchange rate for 2005 from 5.27-5.31 UAH/USD to 5.1-5.15 UAH/USD. This was stated by a representative of the NBU Council apparatus, reports "Ukrainian News". \n \nThe Council also changed the forecast for money supply growth in 2005 from 28-33% to 40-45%, and the monetary base from 20-26% to 38-43%, while the absolute indicators of monetary aggregate growth remained unchanged, and the relative ones (growth percentages) were revised due to changes in actual indicators as of the beginning of this year compared to expected ones. \n \nThe NBU Council at its June 30 meeting did not consider the issue of electing its head. \n \nRecall that in the second half of 2004, the NBU Council set the forecast for the average annual hryvnia exchange rate for 2005 at the level of 5.27-5.31 UAH/USD, as well as the forecast for money supply growth in 2005 at the level of 28-33%, and the monetary base at 20-26%. \n \nMoney supply includes cash in circulation and funds in current and time accounts in commercial banks; the monetary base includes non-cash money in commercial banks' accounts at the NBU and cash in circulation.