"Standard & Poor's, an international ratings agency, predicts that gold currency reserves of the National Bank of Ukraine will have dwindled to USD 20 billion (from USD 24.541 billion as of June 1) and the hryvnia will have devaluated to 9.0 UAH/USD (current official exchange rate 7.99 UAH/USD) by the end of 2013, reads S&P's review.
"We expect the amount of Ukraine's international reserves to lower to USD 20 billion in 2013... On our base scenario we use the assumption of reduction of the hryvnia to dollar exchange rate from 7.99 in 2012 to 9.0 in 2013," the review said.
S&P supposes, the NBU's imposition of the requirement on exporters for mandatory sale of 50% of foreign-currency earnings will relieved the pressure on the hryvnia rate just for a while."
'via Blog this'
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