KYIV, May 28 – Dragon Capital investment group has revised the forecast for the average annual exchange rate of the hryvnia in 2024 from UAH 37.3/$1 to UAH 40/$1, and the rate at the end of the year – from UAH 39/$1 to UAH 42/$1, however, it maintained its GDP growth forecast at 4%.

“We expect that the hryvnia will continue to weaken in a controlled manner against the U.S. dollar. We have revised the forecast due to changes in the National Bank’s approaches to managing the exchange rate in early 2024,” the group said in a press release on Tuesday.