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 Ukrainian Politics, Economics
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 It is Just the Beginning of the Hryvnia’s Decline. Soon the Dollar will Cost 10.5, - Head of the Bank Association

The hryvnia relapsed because the government was artificially maintaining its rate before the elections while not encouraging bank loans. And this has led to a currency imbalance in the bank market.

The chairman of the Bank Association Oleksandr Sugoniako predicts that the decline of the national currency is only beginning and soon the dollar will cost 10.5 hryvnia, reports Glavkom.

"It was a strategic mistake. The political, current strategic tasks of the election campaign were set higher than the task of economical development of the country. And they suppressed crediting. They decreased the money quantity. They artificially maintained the exchange rate. And today we are reaping the fruits. We can expect 30% devaluation. But when will that happen and will it be 30% or may be more - it all depends on internal (circumstances) as well as external", said Sugoniako.

 
 
 
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