You're reading: Yatsenuyk forecasts hryvnya to strengthen to Hr12 per $1 after IMF’s second tranche, stabilization in Donbas

The allocation of the second tranche of the International Monetary Fund loan to Ukraine early in September and the stabilization of the situation in the east of Ukraine will translate into the strengthening of the hryvnia to Hr 12 per $1 and even more, Ukrainian Prime Minister Arseniy Yatsenyuk has said.

“I see it not higher than Hr 12 per $1 … when the situation becomes stable,” he said in an interview with leading TV channels on Friday.

The premier explained the reaction of investors and the population to Russia’s continued aggression is behind the recent weakening of the hryvnia, including on Friday when the Ukrainian currency broke a historical minimum of Hr 13.365 per $1.

At the same time, Yatsenyuk said that the National Bank of Ukraine had lately bought an additional $210 million on the market without spending a dollar from its international reserves, which grew to $16 billion.