By the end of November 2005, the cash exchange rate of the hryvnia may return to the level of the official rate of the National Bank of Ukraine - 5.05 hryvnias per dollar.
This is forecast by the head of the financial instruments issuance department at UkrSotsBank, Erik Naiman, reports UNIAN.
According to the bank's press service, in his words, such a situation is possible due to the expected decline in demand for the American currency by the end of this autumn.
"If we take into account the trends in Ukraine's economy, as well as the situation on world markets for steel, chemical raw materials and grain (the main commodity groups of domestic exports), then no significant changes on the currency market are expected in the first six months of next year," Naiman believes.
At the same time, according to him, at the end of 2006 it is "quite likely" that the rate will reach the level of 5.15-5.20 hryvnias per dollar. "This may happen if the situation with exports from Ukraine does not improve," said Naiman.
At the same time, in his opinion, even if the national currency falls to 5.20 hryvnias per dollar, bank depositors who keep their money in hryvnia deposits will still benefit due to higher interest rates in hryvnia.