28 October 2016

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Fitch forecasts Ukraine's hryvnia may weaken to UAH 26 per U.S. dollar in 2016

Fitch Ratings forecasts that Ukraine's national currency, the hryvnia, may slightly weaken to UAH 26 per U.S. dollar by the end of the current year.


"For 2016 our forecasts assume an average rate of around USD/UAH26, which is in line with the 1H16 rate of USD/UAH of 25.47," Fitch said in a statement.

Fitch analysts predict that the hryvnia may weaken further to UAH 28 per U.S. dollar in 2017.

"[Our] key assumption is USD/UAH28 in 2017," it said.

Fitch expects moderate economic recovery in Ukraine in 2016As UNIAN reported earlier, Ukrainian experts project that the average annual forex rate will be within UAH 25-27 per U.S. dollar.

Ukraine's Cabinet of Ministers forecasts the average annual forex rate in 2017 at UAH 27.2 per U.S. dollar, in 2018-2019 at UAH 27.8-28.1 per U.S. dollar, which is stipulated in the guidelines of Ukraine's budget policy for 2017-2019.

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