KIEV, May 6 – The pace of change in the balance of payments in 2008 allows an increase in the flexibility of the hryvnia exchange rate and a review of the exchange rate forecasts for this year by the Council of the National Bank of Ukraine, according to Valeriy Lytvytsky, head of the group of NBU advisors.

"The conditions for greater flexibility of the exchange rate have formed. According to the balance of payments, the inflow and outflow of foreign currency are high… [and] the exchange rate could suffer from pressure both to strengthen or weaken. In this context, the forecast of the NBU Council looks … to have been underestimated for both the upper (UAH 5.25/$1) and lower limits (UAH 4.95/$1)," he told Interfax-Ukraine.