Fitch assumes that hryvnia will drop by 10% by the end of 2012

10 October 2012 17:47  28322343 022877
Fitch assumes that hryvnia will drop by 10% by the end of 2012

Ukrainian hryvnia may depreciate by 10% by the end of 2012. This was reported at the conference in London by the director of Fitch's sovereign issuers analytical group Charles Seville, informed Bloomberg.

According to him, the confidence in the stability of the Ukrainian currency is "pretty weak" and the country puts pressure on the currency.

However, the analyst does not predict the fall at the level of that in 2008. Hryvnia, which fell by 1.2% against the dollar in 2012, fell by almost 35% in the IV quarter of 2008 - in the midst of the global economic crisis.

Fitch will continue to "monitor how Ukraine will meet its financing needs in 2013", as well as Ukraine's cooperation with the International Monetary Fund, added by Seville.

It should be noted that earlier Fitch lowered the forecast for GDP growth in Ukraine in 2012 by 1.9 percentage points - to 0.5%.

RBC-Ukraine

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