Land market opening may encourage hryvnia appreciation — opinion

Land market liberalization in Ukraine may support the appreciation of hryvnia. This was announced by the Head of Analytics at Forex Club Andriy Shevchyshyn, Segodnya.ua reports.

According to him, either adoption or non-adoption of the law on the land market may become a driver of hryvnia strengthening.

"If it is adopted, and even if it admits non-residents the land market, it will become an additional trend for hryvnia appreciation, as non-residents will gradually bring foreign currency to Ukraine for future investments in the agricultural market," the expert said.

Andriy Shevchyshyn also projects a long-term hryvnia depreciation.

According to AgroPolit.com sources, there were at least 240 votes supporting the opening of the land market in Ukraine. Therefore, the chances to pass the bill are rather high.