IMF worsens forecast for hryvnia rate in late 2015 from UAH 22/$1 to UAH 23.5/$1

10:20, 05.08.2015 1 min read

The hryvnia to U.S. dollar exchange rate by the end of 2015 will come to UAH 23.5 per $1, while by late 2016 – UAH 24.4/$1, according to a report by the International Monetary Fund (IMF).

The forecast is stipulated in the first review of the EFF program for Ukraine.

According to the report, the national currency exchange rate will fall to UAH 24.9/$1 by the end of 2017, afterwards its devaluation will slow down to UAH 0.1-0.3 annually, which will bring the rate to UAH 25.5/$1 by late 2020.

The original scenario of the EFF program approval in March this year suggested the hryvnia to dollar exchange rate of UAH 22/$1 by the end of this year, UAH 22.7/$1 next year, and UAH 23.4/$1 by late 2017, and said it will then stabilize, losing UAH 0.1 annually in the next three years.