On the eve of Independence Day, the Ukrainian currency market is marked by stability and the absence of sharp fluctuations. According to Taras Lesovyi, director of the treasury department of Globus Bank, the dollar exchange rate will fluctuate between 41.4-41.8 UAH during the week, while the euro will range from 48 to 49.5 UAH.
Factors of Stability
The expert notes that one of the factors ensuring calm in the market is the 'managed flexibility' regime of the National Bank, which allows for avoiding sharp jumps in exchange rates. An increase in the supply of currency is also expected due to sales by agricultural companies to finance the harvest season, which, in turn, may help the NBU reduce interventions in the market.
Agricultural companies actively sell foreign currency earnings during this period to finance the harvest, which increases the volume of currency in the market. This, in turn, may give the NBU the opportunity to reduce the scale of foreign exchange interventions.
As for the euro, its value in Ukraine is directly dependent on the euro/dollar exchange rate in global markets and the hryvnia to dollar exchange rate. It is expected that the quotations of the European currency will remain in the range of 48-49.5 UAH.
Currently, there is stability in the Ukrainian currency market, which contributes to the predictable dynamics of the dollar and euro exchange rates. Market participants anticipate further developments based on the mentioned factors of stability.