IMF loan can stop exchange rate fluctuations in Ukraine - Oleksandr Savchenko

IMF loan can stop exchange rate fluctuations in Ukraine - Oleksandr Savchenko

A loan from the International Monetary Fund (IMF) can stop exchange rate fluctuations in Ukraine at the level of UAH 29 per the U.S. dollar by the end of 2018.

Oleksandr Savchenko, the rector of the International Business Institute and a former deputy head of the National Bank, told this to Ukrinform.

"This trend [devaluation of hryvnia] will remain in the medium term. But the devaluation of hryvnia, I think, will not be critical - especially if we get a loan from the IMF. Then by the end of the year, the exchange rate will be set at about UAH 29 per U.S. dollar. If loan tranches do not arrive, the U.S.dollar will cost about UAH 30,” he said.

On Thursday, August 16, 2018, the National Bank of Ukraine set the official exchange rate of hryvnia at UAH 27.4499 per the U.S. dollar compared to UAH 27.4589 for the U.S. dollar stated on Wednesday.


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