Over 83% of businesses expect hryvnia to weaken against dollar over next 12 months – NBU survey

Expectations of the hryvnia to weaken against the dollar dominate among Ukrainian businesses: 83.4% of those surveyed and only 2.6% of respondents believe in the strengthening of the national currency, according to a survey conducted by the National Bank of Ukraine (NBU).

According to the NBU survey, 83.4% of businesses expect the hryvnia to weaken against the dollar over the next 12 months, 14% do not predict changes, and only 2.6% believe in the strengthening of the national currency.

The most pessimistic remain enterprises in trade (88.2%) and transport and communications (86.7%). Among medium-sized companies, this figure was 83.7%, small was 83.4%, and large was 83.1%.

At the same time, the average expected value of the exchange rate improved: business predicts UAH 43.84 per $1 a year ahead against UAH 44.23 per $1 in the previous quarter. Over 64% of respondents expect the rate to be within UAH 42.01 to UAH 45.00 per $1.