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The rate against the U.S. dollar is an exclusively technical indicator that is used to calculate budget figures.
Minister of Finance Serhiy Marchenko says he sees no risks of a significant hryvnia devaluation until the end of the year.
"For the Ministry of Finance, the hryvnia to the U.S. dollar rate is an exclusively technical indicator that is used to calculate budget figures," Marchenko said in an interview, according to the ministry's press service.
"I have no fears about the hryvnia exchange rate against the U.S. dollar, and I see no risks of significant devaluation by year-end," the minister said.
"There are no fundamental macroeconomic factors to this end. But again, given the global effect on the economy as a result of the Covid-19 pandemic that's difficult to predict, it's also rather difficult to foresee the values of highly volatile indicators," Marchenko added.
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The National Bank of Ukraine set the official exchange rate to the U.S. dollar for Friday, November 6, at UAH 28.36/USD, that is, strengthening the currency by 15 kopiykas compared to the previous indicator.
At the same time, according to experts, further strengthening of the national currency looks unlikely, especially against the background of the second wave of the pandemic.
Along with tougher quarantine restrictions, the dollar may renew its highs and reach the level of UAH 29.1/USD by the end of 2020.
The draft state budget for 2021 provides an average annual rate of UAH 29.1 per dollar.