UNIAN
Hryvnia quotations against the dollar on the interbank currency market on Friday strengthened to UAH 24.50/27.50 to the dollar, a broker at a commercial bank has told an UNIAN correspondent.
According to the source, trading on the market was rather quiet, and the hryvnia exchange rate was gradually increasing.
Hryvnia quotes against the euro have settled at UAH 26.90/31.40, while against the Russian ruble they have settled at UAH 0.3930/0.4580.
According to the National Bank of Ukraine, the weighted average exchange rate of the hryvnia as of 1230 was UAH 26.5606 to the dollar, with 11 deals concluded by this time worth a total of $23.12 million.
Earlier, NBU Governor Valeria Gontareva told journalists that the central bank saw an exchange rate of around UAH 20 to the dollar as reasonable.
Ukraine’s currency is the worst performing one in the world this year, and has lost around 70% of its value over the past year. As part of Ukraine’s cooperation with the IMF, the country agreed to relax its controls over the exchange rate, causing the currency to immediately plummet.
The NBU says it expects the currency devaluation to cause a rise in inflation to 40% this year.