Hryvnia to continue strengthening in March – expert

An expert at Dragon Capital's fixed income sales and trading department, Serhiy Fursa, says favorable factors will continue to strengthen the national currency in Ukraine in March 2018.

"The hryvnia has been strengthening for about a month and a half. We must understand that it had earlier weakened greatly under the impact of seasonal factors. Its rate was distorted and now it is returning to normal indicators," the Ukrainian online news outlet Obozrevatel quoted the expert as saying.

Read alsoUkraine to keep forex sales requirements at 50% for now: central bank deputyAccording to Fursa, the purchase by non-residents of government securities and domestic bonds worth about $300 muscled up the national currency. He reassured that the holiday weekend in March would not affect the dollar exchange rate, while the hryvnia rate dynamics would be retained until late March.

"The weekend won't affect the dynamics at all. We know that spring is a 'season' of hryvnia strengthening because the sowing campaign begins. In the near future, there will be favorable factors for the Ukrainian national currency," the economist added.

As UNIAN reported earlier, the International Monetary Fund did not expect a significant fluctuation of the hryvnia exchange rate against the dollar in the next few years.