Ukraine’s Hryvnia Rate Won’t Shift More Than 2% in 2013, PM Says

Ukraine’s hryvnia exchange rate won’t move more than 2 percent in either direction in 2013, according to Prime Minister Mykola Azarov, who said there are “no fundamental reasons” for the currency to depreciate.

Next year’s draft budget “envisages an average hryvnia rate of 8.1 to 8.2 per dollar,” Azarov said in an interview broadcast by the private Channel 5 television station.

The currency has lost 1.1 percent against the dollar this year and traded little changed at 8.1328 as of 2:30 p.m. in the capital, Kiev.

To contact the reporter on this story: Daryna Krasnolutska in Kiev at dkrasnolutsk@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.