The majority (67.5%) of chief executive officers leading Ukrainian corporations believe that the hryvnia exchange rate against the U.S. dollar is going to be within UAH 28-31 in the current year. The average exchange rate is anticipated at UAH 29.53 to the dollar, which is higher than the earlier projected rate at UAH 29.30 to the dollar. Such data was published in the National Bank of Ukraine’s survey of the nation’s business executives in the starting quarter of 2018, UNIAN reports.
On the other hand, the share of respondents that expect a weaker hryvnia declined 88.5% to 86.3%.
At the time of the survey being conducted, the weighted average rate of the hryvnia on the interbank foreign exchange market was at UAH 26.93 to the dollar, whereas its daily fluctuations did not exceed 5.2% of its average value.
According to the National Bank of Ukraine’s official exchange rate, the country’s national currency gained 5.4% in value compared to the U.S. dollar in the first quarter of the present year. On the interbank forex market, the hryvnia exchange rates to the American dollar were set at UAH 26.07/26.09 per dollar.
The 2018 state budget assumes the hryvnia average annual rate in the neighborhood of UAH 29.3 to the dollar, whereas the rate at the end of the year at around UAH 30.1 per U.S. dollar. The historic low for the Ukrainian hryvnia came in February 2015, when it dropped all the way to UAH 30.01 per the American dollar.