Hryvnia could strengthen to almost UAH 25/$1 in coming days

16:10, 25.02.2015 1 min read

The hryvnia exchange rate on the interbank currency market could strengthen to almost UAH 25/$1 in the coming days due to new administrative measures taken by the National Bank of Ukraine (NBU), bank dealers say.

"The measure is adequate. In the conditions of panic on the currency market NBU is to use administrative tools. In coming days the hryvnia exchange rate could strengthen to around UAH 25/$1, according to the current procedure for obligatory sale of 75% of currency income foreign currency is coming to the interbank market, but due to new administrative restrictions banks cannot buy foreign currency under requests of clients," a medium-sized bank dealer said, speaking anonymously.

Another dealer, who works for a larger bank, supports the idea.

"The exchange rate will reach the UAH 25/$1 level in next days. The regulator could enter the market with interventions," he said.