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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 UAH remains de facto pegged to the USD and has been constant at circa UAH26/$1 for most of this year.
Ukrainian migrant workers in Poland provided UAH86bn ($3.3bn) in remittances in 2017, at the current NBU rate, Ukrinform reports. In 2016 the amount was UAH64.7bn.
8.0 Financial & capital markets 8.1 Bank sector overview
Fitch Ratings believes Ukraine’s banks need "some recapitalisation" as some of them "have moderate reserve coverage of restructured exposures", the rating agency said in a note published on May 3.
"State- and foreign-owned banks should be able to receive additional capital support, if needed," the note reads. "Privately owned banks may have more limited access to new capital and in some cases may be understating loan impairment, in our view."
43 UKRAINE Country Report June 2018 www.intellinews.com
