11:11 18.10.2019

NBU improves hryvnia exchange rate forecast for 2020 – Finance minister

2 min read
NBU improves hryvnia exchange rate forecast for 2020 – Finance minister

The National Bank of Ukraine (NBU) has improved its hryvnia exchange rate forecast for 2020 as the International Monetary Fund (IMF) and the World Bank did, Ukrainian Finance Minister Oksana Markarova has said, without specifying the concrete figure.

In all forecasts and in forecasts of the National Bank, the exchange rate for the next year is strengthened, that is, the rate on which the budget was based (UAH 28.20/$1). Obviously, it will not be like that anymore, the finance minister said in an interview with the Voice of America in Washington on Thursday.

She added that soon the Finance Ministry and the government will receive an updated forecast of the Ministry of Economic Development, Trade and Agriculture, on the basis of which changes will be made to the draft national budget for 2020.

The forecasts of all the organizations, the National Bank say that the rate is strengthening and this is a long-term trend. Therefore, there will be fluctuations, but we should expect that this strengthening is not some small fluctuation of this year, but this is a new normality, Markarova said.

As reported, since the beginning of 2019, the hryvnia exchange rate has strengthened by 10.3%, to UAH 24.835244/$1.

The National Bank of Ukraine does not officially announce its exchange rate forecasts, at the same time, it sends them to the government for drawing up the draft national budget.

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