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UPDATE: NBU Council Reconsiders Forecast Indicators Of Hryvnia Exchange Rate For 2008 From 4.85 UAH/USD Give Or Take 4% To 4.95 UAH/USD Give Or Take 8% (19:58, Tuesday, October 7, 2008)

(The story updated with details)

The Council of the National Bank of Ukraine reconsidered the forecast indicators of hryvnia exchange rate from 4.85 UAH/USD, give or take 4%, to 4.95 UAH/USD, give or take 8%.

Board chairman of NBU council Petro Poroshenko has announced this to the press.

"Today new [forecast] indicators of 4.95 UAH/USD give or take 8% was unanimously approved," he said.

According to him, this decision is related to the change of situation on the currency market and also with the latest trends at global financial markets and internal political factors.

Poroshenko stressed that the NBU head Volodymyr Stelmakh was present at the NBU council meeting and also voted for reconsideration of the exchange rate forecast.

At the same time the NBU council did not review the exchange rate forecast for 2009.

"We'll return to this issue later, when we have more information about prices of gas and metal," he said.

Presently the NBU council's currency exchange rate forecast for 2009 is 4.85 UAH/USD give or take 5%.

As Ukrainian News reported, earlier NBU forecasted the currency exchange rate at 4.85 UAH/USD, give or take 4% for 2008 and 4.85 UAH/USD give or take 5% for 2009.

On Tuesday, October 7, the interbank hryvnia exchange rate fell by 22 kopecks to 5.5000 UAH/USD after falling on Monday.



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