REUTERS
The hryvnia may still strengthen this summer.
Economist Viktor Skarshevsky forecasts the forex rate of Ukraine's national currency, the hryvnia, will slightly weaken against the U.S. dollar by the end of the summer of 2019, to UAH 28-UAH 28.5.
Read alsoNBU strengthens official forex rate to UAH 26.59 to dollar for June 10
By autumn, demand for foreign currency will increase and the dollar will become stronger, he told the news outlet ObozTV on June 8.
This summer, the hryvnia may still strengthen to UAH 26.5 per dollar, the expert added.
Skarshevsky predicts the start of seasonal devaluation by the autumn since the demand for foreign currency will increase with the launch of the harvest campaign. In addition, it will be necessary to purchase more fuel before the heating season.
"By the end of the summer, this [the forex rate] may be within the range of UAH 28-UAH 28.5 per U.S. dollar taking into account the withdrawal of non-residents from Ukraine. By the end of the year, the rate may be within UAH 29-UAH 30 per dollar if there is no sharp decline in world prices for major Ukrainian export-oriented products: metal, ore, and grain," he said.
The National Bank of Ukraine (NBU) significantly strengthened the official forex rate of the hryvnia against the U.S. dollar on June 10, according to the regulator's website.