In an interview with QHA, Alexander Savchenko, Former Deputy Chairman of Ukraine’s National Bank, who now works as Rector of the International Business Institute, shared his predictions for Ukraine’s forex market in the first quarter of 2016.

“The realistic scenario is as follows: we should expect the Hryvna to drop to 26-28 per Dollar. That will happen even if the National Bank does not change its policy and the Government conducts no reforms,” says Savchenko.

According to Savchenko, the Dollar may rise in value and cost 27-28 hryvnas in the second quarter of 2016.

“Oil will continue to cost 30 dollars per barrel, while gas will drop in price. There will also be an insignificant increase in price of non-ferrous metals,” Savchenko said.

Savchenko also believes that the Dollar will cost no more than 28 hryvnas by the end of the year.