Dollar may collapse to 6-7 UAH because of Euro-2012

Due to Euro 2012 in Ukraine the exchange rate of dollar may reach 6-7 UAH.

This point of view was expressed by the ex-minister of economy, the president of the Center for Market Reforms Volodymyr Lanovyi.
According to the economist, such an event like Euro 2012 is a certain challenge for the economy. He explained that both a lack of currency and its surplus (during Euro 2012 in Ukraine a large amount of currency will appear) are harmful to the stability of the economy.

"In case of influx of, say, one billion dollars of foreign currency per month, which will be brought by tourists and teams, it will cause a dollar oversupply in the domestic market and the dollar will be devalued. It may reach 6-7 UAH per dollar", emphasized V. Lanovyi.

This, according to the economist, will result in various gray, illegal markets where currency will be exchanged at a different rate. Therefore, the expert added, Euro will become a serious challenge for our economy.

ubr