Ukranian News - Fitch Predicts Hryvnia To Devaluate To 8.5 UAH/USD, FX Reserves To Shrink From USD 17.8 Billion To USD 12.9 Billion In 2014:
"Fitch Ratings, an international ratings agency, predicts the hryvnia will devaluate to 8.5 UAH/USD be the end of 2014 and the foreign-exchange reserves to shrink from USD 17.8 billion (as the agency forecasts by the end of 2013) to USD 12.9 billion (by the end of 2014), the agency has announced in a statement.
Fitch forecasts that the current account position of Ukraine's balance of payments will be negative at 7.3% of GDP in 2013 and negative at 6.2% of GDP in 2014.
Ukraine's total public-sector debt, as the agency supposes, will reach 35.7% of GDP by the end of 2013 and 41.6% of GDP by the end of 2014.
As Ukrainian News earlier reported, the hryvnia exchange rate in the interbank currency market fell by 1.4 kopeck to 8.1870 UAH/USD on Wednesday, after falling by 0.3 kopeck on Tuesday.
Since the beginning of 2013, the hryvnia has fallen by 1.7% from 8.0500 UAH/USD to 8.1870 UAH/USD in the interbank currency market.
Foreign-Exchange Reserves of the National Bank of Ukraine decreased by 0.1% or USD 16.54 million in September, amounting to USD 21,639.34 million as of September 30."
'via Blog this'
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