KIEV, May 18 – The European Bank for Reconstruction and Development sees potential for the strengthening of the hryvnia against the backdrop of stable prices for steel on the world market, which in turn backs up the country's exports, said EBRD Chief Economist Erik Berglof.

"Steel prices are surprisingly steady and this, of course, will become a supporting factor in what concerns export receipts to Ukraine for some time. At the same time, this creates a corresponding burden for the Ukrainian currency. Although, the hryvnia is most likely to be growing in value in the near-term outlook, downward pressure will appear in the long-term outlook, he said at a briefing in Kiev on May 18.