Photo from UNIAN

Almost halfway through 2018, the hryvnia is the No. 1 performer against the dollar, despite other developing nations succumbing to a rout.

The hryvnia has gained 7.5% against the dollar this year, beating Georgia’s lari and Colombia’s peso for the top spot globally, according to Bloomberg.

The country is not without problems: foreign reserves are relatively low, corruption remains rife and government debt is high, the agency says. But, while delayed, the $17.5 billion rescue program from the International Monetary Fund has helped keep state finances in check.

As UNIAN reported earlier, Ukraine's national currency strengthened against the U.S. dollar by 0.5% in terms of its official exchange rate in May and by 0.7% in Jan-May.

The State Budget 2018 lays down the average annual rate of the hryvnia at about UAH 29.3/USD, to reach about UAH 30.1/USD by year-end.

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According to a survey conducted by the NBU in the first quarter of 2018, most Ukrainian businesses forecast the UAH exchange rate against the U.S. dollar in the next 12 months in the range of UAH 28-31/USD.

Hryvnia reached its historical minimum in February 2015, at UAH 30.01/USD.