Page 49 - UKRRptDec18

7.0 FX Source: CEIC
Exchange rate 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Official UAH/USD (eop) 7.7 7.99 7.96 7.99 7.99 7.99 15.77 23.41 26.20 27.52
Official UAH/USD (avg) 5.27 7.79 7.94 7.97 7.99 7.99 11.89 21.84 22.55 26.60
The hryvnia FX rate is volatile , but should finish 2018 near UAH28/$. Since mid-June, the hryvnia has lost more than 6%, pressed by devaluation expectations and the start of high seasonal demand for the $. Nevertheless, ICU keeps its previous FX projections intact and expect the hryvnia to stay near the UAH28/$level at YE2018. “We think the key mitigating factor for the hryvnia will be successful unlocking of the IMF program and the resulting FX inflows from the Fund and other international financial institutions in 4Q18” ICU said.
49 UKRAINE Country Report December 2018 www.intellinews.com