EBA predicts UAH 14-15/$1 exchange rate by late 2014-early 2015

14:52, 13.11.2014 1 min read

The European Business Association (EBA) has forecasted that the exchange rate will total UAH 14-15/$1 by late 2014 if demand on currency on the Ukrainian domestic market is satisfied and the Stand-By Arrangement (SBA) with the International Monetary Fund (IMF) is revised.

"Now we see excess demand on the U.S. dollars formed over the past two months due to restriction of the National Bank of Ukraine (NBU) on purchase of foreign currency. Temporarily the exchange rate could be UAH 14-15/$1, but the exchange rate could return to UAH 14-15/$1 by the end of the year or early next year if the progress with the next disbursement from the IMF is seen and the SBA is slightly revised," EBA President and Director General of Dragon Capital investment company Tomas Fiala said at a press conference in Kyiv on Thursday.

EBA Executive Director Anna Derevyanko said that when the association polled EBA members asking what exchange rate they include in their financial documents, the range was wide – from UAH 13 to UAH 20/$1.