REUTERS
The national budget for 2020 set the hryvnia forex rate at UAH 27 per the U.S. dollar.
Ukrainian expert in economy Oleksiy Gerashchenko says the forex rate of the hryvnia, Ukraine's national currency, may be fixed at UAH 27 per the U.S. dollar before the end of 2020 if there are no "black swan" [force majeure] events.
"We will see a slow and gradual devaluation of the hryvnia to UAH 27 per dollar at the end of the year if there are no significant 'black swan' events [force majeure] like coronavirus. That is, this is the base-case scenario, which can be changed if something extraordinary happens in the world. Then, it will require correction for sure," he told the Ukrainian online news outlet Obozrevatel on February 15.
According to the expert, such hryvnia strengthening, as was the case in 2019, will no longer happen.
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"Because the strengthening [of the hryvnia] had negative consequences. Ukraine has become less competitive in export products," he explained.
Noteworthy, the national budget for 2020 envisages the hryvnia forex rate at UAH 27 per the U.S. dollar, according to estimates by Ukraine's Economic Development, Trade and Agriculture Ministry.