The hryvnia exchange rate would receive additional support after the expected resumption of credit cooperation between the International Monetary Fund (IMF) and Ukraine, according to bankers polled by Interfax-Ukraine.
"The IMF’s decision to issue a credit to Ukraine would be the key factor impacting the exchange rate formation this year. I think that during this year the exchange rate reference point would be Hr 7.9/$1, taking into account the interests of exporters and the real situation in the economy," First Deputy Board Chairman of Prominvestbank, Viacheslav Yutkin, said.
He said that if the IMF board did not support the proposal of the IMF Mission to Ukraine to issue a credit to the country, the exchange rate could fluctuate within Hr 8-8.3/$1 range this year.
The banker said that the IMF’s decision is important for inflow of foreign investment.
The banker expressed fears that what the sources for paying back the credit are.
The director of the Khreschatyk Bank’s treasury, Oleksiy Kozyrev, also said that if the IMF decides to issue a credit to Ukraine, the hryvnia exchange rate would remain unchanged by autumn.
Kozyrev said that the principal issue is the schedule of allocation of the funds and what purposes of the fund spending would be.
Ukrinbank Board Chairman Volodymyr Klymenko said that the IMF’s credit support to Ukraine would positively influence the Ukrainian balance of payments.
