The Ukrainian outfit prevailed by a 3-2 scoreline, but Fergusson’s late strike, coupled with Kyle Glasgow’s goal earlier in the second period, has given the side plenty of belief ahead of the second act in seven days’ time.
Through the loan co-operation agreement, Rangers were able to hand starts to Queen’s Park loanees Lewis Stewart and Aiden McCallion, as well as Kyle Glasgow and Max Cameron at Alloa Athletic in League One.
However, they suffered a setback inside three minutes when the Ukrainian outfit struck in hugely fortuitous circumstances.
Space opened up for Pavlo Liusin fully 25 yards out from goal, with the midfielder benefitting from a wicked deflection off Corey Ngwenya which looped over Rydnn McGuire.
It was a bitter pill to swallow for the away side, but Ngwenya himself ought to have levelled shortly after when the ball broke kindly to the defender inside the penalty area from a corner and he contrived to spoon the ball over the top.
Lewis Stewart then tested his luck from a free-kick which looked briefly to be sailing towards the top corner before an intervention from the goalkeeper.
As the half ticked towards its conclusion, James Reid met a deep Glasgow corner, but under pressure at the far post he could only nod wide of the target.
The young Gers looked for all intents and purposes to be heading into the interval only a goal behind, but they were sucker punched in stoppage time when Arsenii Fedorenko was released beyond the backline and he duly slotted beyond Rydnn McGuire.
The visitors showed immediate intent to open the second half as Stewart flashed a dangerous delivery across the face of goal which unfortunately had no takers in blue.
A third for the home side would have left the Gers with an uphill climb, and they were grateful to McGuire moments later when he sprung down low to thwart Ousmane Savane.
Soon after, Glasgow did well to regain possession high up the pitch before picking out Luca Rankin inside the penalty area, but the midfielder steered his left-footed effort into the arms of the goalkeeper.
With 15 minutes to play, the Gers found a route back into the contest when Glasgow robbed the goalkeeper inside his own six-yard area before slotting into an empty net.
However, any optimism was short-lived, as immediately from kick-off the Ukrainian outfit sprung Yaroslav Buravtsov through on goal and the forward kept his cool to finish beyond McGuire.
Significantly younger than their opponents, Rangers could have been forgiven for believing the game was beyond them, but their determination wasn’t to be doubted.
With five minutes of additional time confirmed, the away side struck for the second time in the final quarter of an hour to set up a fascinating return leg next week.
Substitute Cameron Fernie swivelled on the edge of the penalty area and curled towards goal, but when the goalkeeper was only able to palm his effort out onto the edge of the six-yard box, fellow substitute Fergusson steamed in to slam his rebound into the bottom corner.
RANGERS: McGuire, Kerr, Reid, Ngwenya, Scally, McCallion, Hutton (Fernie, 57), Rankin (Young, 74), Glasgow, Cameron (Fergusson, 86), Stewart
Subs not used: Thackray, Owen, Ramage, Caldwell, Hall, Owoyomi
DYNAMO KYIV: Rolenko, Rybak, Ohorodnik, Ivaskiv, Andreyko (Hrodzinskyi, 89), Liusin (Romaniuk, 80), Buravtsov (Zaikan, 85), Ozymai, Fedorenko, Savane (Yurchenko, 85), Kostiantyn
Subs not used: Pozhar, Parinov, Konovalov, Yermak, Kvikviniia
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