Ukraine to Allow Hryvnia to Drop 10% by Year-End, HSBC Says
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Ukraine will probably let its currency devalue 10 percent to 9 hryvnia per dollar by year-end to restart International Monetary Fund financing, according to HSBC Holdings Plc.
“The sooner the devaluation of the hryvnia occurs, the better for the external balance, the economy and the markets,” Alexander Morozov, HSBC’s Moscow-based chief economist for Russia, Ukraine and Kazakhstan, said today in an e-mailed report.