KIEV, Feb. 27 – The hryvnia by the end of Q1 could weaken to UAH 12/$1, and the average hryvnia exchange rate would be UAH 11/$1, according to Mykhailo Salnykov, an analyst from Sokrat Investment Group.

"The further development of events will strongly depend on whether Ukrainian exports resume in Q2 and exporters bring currency to the Ukrainian banking system. If there is a favorable situation, the exchange rate could slightly strengthen, otherwise the weakening could continue to the UAH 15/$1 level," reads a company report, citing Salnykov.