You're reading: IMF worsens forecast for hryvnia rate in late 2015 from Hr 22/$1 to Hr 23.5/$1

The hryvnia to U.S. dollar exchange rate by the end of 2015 will come to Hr 23.5 per $1, while by late 2016 - Hr 24.4/$1, according to a report by the International Monetary Fund (IMF).

The forecast is stipulated in the first review of the EFF program for Ukraine.

According to the report, the national currency exchange rate will fall to Hr 24.9/$1 by the end of 2017, afterwards its devaluation will slow down to Hr 0.1-0.3 annually, which will bring the rate to Hr 25.5/$1 by late 2020.

The original scenario of the EFF program approval in March this year suggested the hryvnia to dollar exchange rate of Hr 22/$1 by the end of this year, Hr 22.7/$1 next year, and Hr 23.4/$1 by late 2017, and said it will then stabilize, losing Hr 0.1 annually in the next three years.