Companies@UA: База компаний Украины

Kyiv, August 6 (Interfax-Ukraine) – The average weighted hryvnia exchange rate in 2009 could be UAH 8.5-9.1/$1, according to the director of the Institute for Economic Research and Policy Consulting, Ihor Burakovsky.

"The average weighted hryvnia exchange rate this year would fluctuate from UAH 8.5 to UAH 9.1/$1... The poor economy cannot have the strong currency," he said at a press conference on Wednesday.

He said that the weakening of the hryvnia is not the precondition for a tragedy in the national economy.

Burakovsky also said that statements of the Ukrainian prime minister on the reality of the exchange rate at UAH 6.0-6.5/$1 was made under pressure of persons who are lobbying for the banking sector and interested in receiving cheap currency to pay on foreign debts.

"It's obvious that these are people who are affiliated with the Ukrainian banking system and who need to return large foreign debts," he said.

Burakovsky said that the tentative calculations carried out in the middle of July, considering fundamental factors impacting the Ukrainian economy, indicated that the average weighted hryvnia exchange rate today is UAH 7.5-7.8/$1.

As reported, the hryvnia exchange rate on the interbank currency market on Tuesday fell to UAH 7.95/$1 from UAH 7.91/$1 on Monday. On Wednesday, the quotation reached UAH 7.95-8.05/$1. The NBU has sold over $6 billion on the interbank to support the exchange rate since the start of the year.