KYIV, Dec 18 – Ukraine’s hryvnia will probably strengthen by the end of the year due to robust steel exports and growing appetite from foreign investors for domestic debt, Dragon Capital Investment Company reported.

The hryvnia is expected to trade at UAH 27.50/$1 by the end of the year compared to UAH 29/$1 in the September forecast, Dragon said.

Chief Economist at Dragon Capital Olena Bilan predicts the gradual strengthening of the hryvnia will continue in the first quarter of next year, but by the end of the year the rate will return to UAH 28/$1, while it was previously expected that by the end of 2021 the exchange rate will be UAH 30/$1.