Dollar in Ukraine can jump to 31 hryvnia – expert

The devaluation of the hryvnia against the dollar before the end of the year could be 10 – 15%. This opinion was expressed by a financial analyst Yegor Perelygin.

“In relation to the average rate on the interbank market it will amount to 10-15% by year-end (up to 30 – 31 UAH/USD. – Ed.)”, – said the expert.

Perelygin noted that to date the Ukrainians have no alternative to preserve purchasing power, in addition to the purchase currency.

“For more than 25 years of our independence, the population has no hedging instrument. To cut down at the root, you need to start with fundamental reforms: to create and develop the stock market, the normal foreign exchange market, to regulate banks more strictly, develop the rule of law and financial literacy. If you do the cleaning of the banking sector, do it quickly”, – the expert believes.

As reported, the hryvnia began a new round of fall in December. After the new year the Ukrainian currency strengthened slightly this week, however, the devaluation has accelerated.

The national Bank explained the fall of the hryvnia on the interbank foreign exchange market reduced supply of foreign currency as a result of traditional for the first months of the year a seasonal decline in business activity.

Historic low rate of the Ukrainian hryvnia against the US dollar, recorded in February 2015 is 30.01 UAH/USD.