UAH: Central Bank To Keep Two Hands On Hryvnia

The Ukrainian hryvnia has traded inside the National Bank of Ukraine's official target around the UAH7.9500/US$ level in recent weeks, suggesting to us that more appreciatory pressures are coming to bear on the currency. However, in the near term we do not see monetary policymakers loosening their grip on the nominal exchange rate and this will prevent anything more than a token appreciation.

To read the full article, please choose one of the following options: