News
02.09.2010
Ukraine. Experts not excluding strengthening of hryvnia by end of this year
The exchange rate of the hryvnia will remain unchanged by the end of this year, or it may strengthen to UAH 7.85/USD 1, an expert from the analytical department at X-Trade Brokers Ukraine, Volodymyr Oleksiuk, said at a press conference at UKRINFORM on Tuesday.
The analyst said that recent macroeconomic developments in Ukraine would have a positive effect on the exchange rate of the national currency. "The recovery of the banking sector, a reduction in the dollarization of the economy by 2% in the first half of the year, the receipt of financing from the International Monetary Fund, and an 11.4% increase in the National Bank of Ukraine's reserves in the first half of the year to USD 29.846 billion will contribute to the stability of the hryvnia," he said.
The expert also said he did not rule out the possible reduction in the cost of loans in the national currency by the end of the year. "We expect that by the end of the year we'll see a reduction in the cost of loans by 2% to 20% per annum," he said.
The official exchange rate of the hryvnia against the U.S. dollar has strengthened by 1.19% since the beginning of this year.
ukrinform
