Ukraine cbank council widens forecast hryvnia band

18:15, 07 October 2008
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 To UAH 4.95/ $1, plus or minus 8 percent

Ukraine`s central bank council said on Tuesday it had widened the forecast for the hryvnia in 2008 to 4.95 to the dollar, plus or minus 8 percent, from 4.85 plus or minus 4 percent, according to Reuters.

The measure brought the range of the hryvnia to 4.554-5.346/$. The currency has weakened sharply in recent weeks and was trading beyond the new band at 5.54-5.60, its lowest rate since February 2004.

Reuters via Hemscott

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