The justified rate is 10.5 UAH per dollar - the minister

28 April 2014 08:10  3967591 068424
The justified rate is 10.5 UAH per dollar - the minister

The justified rate of Ukrainian currency is 10.5 UAH per dollar.

This was announced by the Minister of Economic Development and Trade of Ukraine Pavlo Sheremeta in Kharkiv, during a press conference, the UNIAN reported.

According to the minister, the high value of the dollar against the hryvnia, which is observed now, is caused by "the market over-reaction", but over the last two weeks, there have been "positive developments".

"The minister should not forecast, so I am not giving a prognosis. It's not my authority. A normal level would be approximately 10.5 UAH, it is a reasonable market rate. Actually, it was said even six months, a year ago, when the hryvnia rate was maintained artificially" - Sheremeta said.

The minister said that if Ukraine receives the IMF loan, the rate of the hryvnia against the dollar will to continue to approach a reasonable level.

"We are moving in that direction, and if there are positive news next week from international financial institutions, I think this trend will continue," - Sheremeta said.

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