REUTERS
This change is projected late in October and early in November this year.
International expert in economy, Chairman of NGO National Interest of Ukraine Ihor Garbaruk says the hryvnia, Ukraine's national currency, is expected to weaken against the U.S. dollar after its significant strengthening since the beginning of the year.
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"One can expect this situation between October 20 and November 10 this year," he said, as reported by the Ukrainian Fakty daily newspaper on August 5.
According to the expert, the current strengthening of the national currency is based exclusively on speculative trading. "International currency profiteers have paid attention to Ukraine, and taking advantage of the situation, bought up government domestic loan bonds in large numbers," he said.
Speculators exchanged dollars for hryvnias and bought securities. Towards the end of the year, the reverse process is expected, that is the redemption of bonds and the exchange of Ukraine's currency for dollars, which will lead to an increase in the forex rate of the U.S. dollar.
"Setting the key [refinancing] rate at 17% by the National Bank [of Ukraine] will provide holders of government bonds with super profit," Garbaruk said.