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.

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