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The NBU explained what is happening with the hryvnia exchange rate in Ukraine

The regulator pointed out the time and psychological factors influence the rate of the national currency

Photo: Pixabay

The National Bank of Ukraine (NBU), commented on the recent weakening of the hryvnia, the press service of the regulator.

“In late August – early September the hryvnia exchange rate weakened somewhat, however, according to estimates by the National Bank, this was due to the temporary and psychological factors”, – is spoken in the message.

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As noted in the NBU, the weakening of the national currency exchange rate “reflects the impact of the seasonality of previous years on the behavior of economic agents.”

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Recall that under the baseline scenario, Ukraine’s first three-year Budget resolution, in 2017, the average annual hryvnia exchange rate is projected at 27.8 million UAH/USD., in 2018 on the $ 29.3 UAH/USD., in 2019 – 30.5 UAH/USD. and in 2020 – 31 UAH/USD.

The experts at the end of the year give different predictions: in the Razumkov Centre promise a course in the area of 27 hryvnia in the second half, and Concorde Capital assume that at the end of this year the dollar will cost 28,5 hryvnia.

  • For 2015, the hryvnia depreciated by halffor 2016 devalued by 12.9%, and for the first half of 2017 strengthened against the dollar by 4%;
  • According to the “big Mac index”, the dollar in Ukraine has to cost a little more than 8 UAH;
  • The historical maximum the official rate of the dollar – 30.01 UAH. – was made in Feb 2015. The historical maximum of the Euro – 34,04 UAH.

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