Record surge in euro
The record surge in the euro has raised concerns among consumers, however, economist Oleksiy Plotnikov predicts that there will not be an instant increase in food prices in Ukraine. According to him, the main reason for this is the presence of old stockpiles of products, which will help to keep the prices of goods in the market in check.
The National Bank of Ukraine set the official euro exchange rate at 50.17 hryvnias on January 12. The euro price in the currency market remains stable, staying within 49.90-50.20 hryvnias per euro. A significant portion of the products consumed by Ukrainians was imported in December last year at an exchange rate of 43 hryvnias per euro. This indicates that the available stockpiles are not subject to immediate price increases despite changes in the exchange rate.
Situation in the currency market
Oleksiy Plotnikov also notes that the situation in the currency market at this moment depends not on internal decisions from Kyiv, but on the global relationship of the dollar-euro pair. He warns that the exchange rate may change in the event of geopolitical tensions, which could affect the economic situation in Ukraine. However, for now, existing stockpiles of products provide a certain stability in pricing for food products.
This situation emphasizes the importance of monitoring the exchange rate and import stocks for the consumer market of Ukraine.
Oleksiy Plotnikov
Preserving old stockpiles of products can help avoid sharp price increases, however, in the context of a global economy, it is important to be prepared for possible changes. Stability in the currency market, in turn, is critically important for ensuring economic stability in the country.