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Currency Panic. Where Hryvnia Falls

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The ‘Focus’ magazine tried to figure out whether the Ukrainians` fears, who massively buy currency at a disadvantageous exchange rate, are reasonable. Will our country`s currency overcome the psychological barrier of 30 Hryvnias per dollar?Dmytro Boyarchuk, ‘CASE Ukraine’ Center for Social and Economic Research CEO, claims the reasons for the national currency devaluation are absent.

The forecast of ‘CASE Ukraine’ is 30 UAH per dollar at the end of the year and the average annual rate of 28.5 UAH. ‘The trajectory of the exchange rate will likely be similar to last year`s one: a jump and a return to a lower level. It is time for The National Bank and the Ministry of Finance to admit, that a mere planning of  budget expenditures eliminates the artificial devaluation’, the economist says.

Read the full article [in ukrainian]

January 16, 2017