Hryvnia strengthens to UAH 23.20 to dollar on interbank market

Hryvnia quotations against the dollar on the interbank currency market on Thursday rose to UAH 22.90/23.20 to the dollar, a broker at a commercial bank has told an UNIAN correspondent.

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Hryvnia quotes against the euro have settled at UAH 25.30/25.65, while against the Russian ruble they have settled at UAH 0.37/0.38.

According to the National Bank of Ukraine, the weighted average exchange rate of the hryvnia as of 1300 was UAH 23.3076 to the dollar, with 23 deals concluded by this time worth a total of $2.07 million.

Ukraine introduced currency restrictions after the hryvnia slid to over UAH 30 to the dollar in recent weeks. The NBU has placed various restrictions on currency outflows from the country, and plans to up its key interest rate to 30% soon, according to senior bankers.

The head of the NBU, Valeria Gontereva, has said the central bank will stabilize the hryvnia at the level of UAH 20-22 per dollar.

However, financial experts say the future fate of the hryvnia lies as much in the hands of the Russian-backed militants in the east as it does in those of NBU officials: a breakdown of the ceasefire and further fighting would inevitably deal a heavy blow to the already weak Ukrainian economy, causing the currency to slide further.

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