The hryvnia has fallen due to nacionalizaciya PrivatBank – economist

In Ukraine against the hryvnia has risen in price dollar and the Euro. Thus, the national Bank yesterday lowered the rate of the national currency by 29 cents to 26.65 USD for one dollar and 27,83 UAH per Euro. In exchange the dollar bought over 27,32 UAH, and EUR UAH of 28.42.

Experts note that the simultaneous fall of the hryvnia immediately on all fronts was not observed for several days. At the NBU the growth of the dollar is explained by the coincidence of two factors: holidays in the USA and Europe, and increases in the demand for foreign currency after exporting companies were reimbursed VAT from the budget. In turn, the economist Alexander Okhrimenko connects the fall with the consequences nacionalizaciya PrivatBank.

“I was hoping that the national Bank would work more efficiently in this situation, the more that they began great. But they too quickly started the process of refinancing — it had to be gradual and in stages. This is the main factor of the fall of the hryvnia, because at the end of the year we traditionally hryvnia is increasing in price, but not devalue. Especially now that the demand from importers is low — they understand that in the beginning of January, nothing really will not work”, — said the expert.

He adds that by the end of the year the hryvnia exchange rate can officially reach 27 UAH per dollar, and in exchange will stop at the level of 27.5. “I think that we will be able to finish the year, but in early 2017, will have to pay foreign debts and devaluation may continue,” — sums up Okhrimenko.