The National Bank of Ukraine (NBU) expects the hryvnia exchange rate to return to the level of UAH 7.98-8.14/$1, Acting NBU Governor Anatoliy Shapovalov has said.
“We have clearly outlined our expectations on the currency rate at
the level of UAH 7.98-8.14/$1,” he said in an interview with the
Ekonomicheskie Izvestiya newspaper.
However, he declined to specify when this could happen.
Shapovalov said that the weakening of the hryvnia had recently
accelerated due to the removal of assets from Ukraine by a number of
foreign companies.
The hryvnia exchange rate on the interbank currency market dropped
to UAH 8.65/$1 on September 2 from UAH 8.52/$1 after trading on
September 1. The hryvnia exchange rate has dropped by 6.94% since the
start of the year, from UAH 8.05/$1. The central bank has sold over $8
billion from its reserves, including around $900 million at auctions,
since early 2009 in order to support the national currency.
