S&P Global Ratings predicts further devaluation of hryvnia against dollar

The international agency S&P Global Ratings predicts further devaluation of the hryvnia against the dollar. The fall of the currency will have an impact on prices, the agency said in a statement.

Report informs citing RBC-Ukraine that at the beginning of the war, the NBU fixed the hryvnia exchange rate and introduced extensive foreign exchange restrictions to contain risks to financial stability. In June-July, given the pressure on the exchange rate, the NBU raised the key rate by 15 percentage points to 25% and devalued the currency against the US dollar by 25%.

The agency's analysts said that they expect further weakening of the currency, which will increase inflationary pressure.