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The hryvnia strengthened by 1.7% against the dollar and by 3.6% against the euro in January-March 2019.
Morgan Stanley analysts forecast that Ukraine's hryvnia will weaken by UAH 4 to UAH 31 per U.S. dollar by the end of 2019 and further to UAH 32.5 per U.S. dollar by the end of 2020.
They expect that the National Bank of Ukraine NBU will lower the key refinancing rate to 14% in 2020, and by the end of this year, the cost of Ukraine's debt will fall to 16%, according to the Novoe Vremya online publication.
Read alsoNational Bank: Hryvnia falls against U.S. dollar by 1.3% in March
The analysts also predict a decline in GDP growth to 2.7% in 2019 and 2.6% in 2020.
The current account deficit is forecast at 4% of GDP in 2019 and 3.6% in 2020.
They describe Ukraine's economic situation as political, macroeconomic uncertainty for investments, increasing gas tariffs, high inflation, restraining household consumption.
As UNIAN reported, the Ukrainian hryvnia at the official rate of the National Bank of Ukraine for March lost its value against the U.S. dollar by 1.3%, to UAH 27.21, but gained in value by 0.3% against the euro, to UAH 30.57. The hryvnia strengthened by 1.7% against the dollar and by 3.6% against the euro in January-March 2019.