Experts predict that in February the dollar will overcome the mark of UAH 25 (we will remind, on Friday, January 31, the national Bank set the official exchange rate 24,92 hryvnia to the dollar) and fluctuations in the exchange rate will only intensify.
About it writes Today.
“In February there will be a devaluation of the hryvnia. The rate exceeds 25 UAH. for a dollar. This will increase the exchange rate fluctuation. This is caused by negative trends in the Ukrainian economy, rising political tensions and the liberalization of foreign exchange market pursued by the national Bank,” — said in comments to the website “Today” candidate of economic Sciences Alexander Khmelevsky.
Head EXANTE Ukraine Vladimir Godforsaken adds that Ukrainian hryvnia is adjusted with the beginning of the year. Besides, on the course and impact of the spread of coronavirus.
“It is expected that the markets in the coming weeks (at least) will still stay in power fears the economic consequences of the spread of the virus. This means that the hryvnia after other risk assets remain in a state of “lock in profits”. Further growth of the dollar is able to send a few USD/UAH in the area 25.50-25.80, where the rate stabilized from March to July 2018. At the same time, fears can just as quickly disappear as it appeared. It is not excluded that the hryvnia may still hard to cling to the mark of 25.0,” said Godforsaken.
Vadim Bardasi, analyst at European investment centre also explains that in February, the exchange rate will be influenced by many factors, particularly the slowdown in exports of base metals and an increase in their purchases from abroad, the reduction of exports of agricultural products due to the slowdown in agriculture. But, at the same time, Ukraine has started to look investors for long-term investment that will help keep the hryvnia stable position.
“Given the loose monetary policies of global Central banks and the tendency of investors to risky assets, the flow of debt capital will continue and the dollar exchange rate in Ukraine in February of the current year will fluctuate in the range of 24-25 UAH with a gradual increase to a high value corridor,” said Bardas.
Katrine Johns has been a reporter on the news desk since 2013. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Gal Post, Katrine Johns worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my email@example.com 1-800-268-7128