Banker's Forecast for Dollar and Euro Exchange Rates Next Week

Banker's Forecast for Dollar and Euro Exchange Rates Next Week

According to ХВИЛЯ: According to a forecast by Taras Lisovyi, Director of the Department at Globus Bank, the cash currency market is expected to stabilize from February 2 to 8, 2024. The projected exchange rate corridors for the US dollar are set at 42.5-43.5 hryvnias, while the euro is forecast to trade between 50-51.5 hryvnias. During this period, the National Bank of Ukraine has also scheduled its weekly interventions, amounting to 500-600 million dollars. These interventions are a standard monetary policy tool used to manage exchange rate volatility.

Lisovyi notes that the expected gap between supply and demand on the currency market is projected to narrow to 5-7%. The spread at banks for the dollar will be 0.5-0.6 hryvnias, and for the euro, 0.8-1.0 hryvnias. At exchange offices, the spread for the dollar could reach up to 1 hryvnia, and for the euro, up to 1.3 hryvnias. The projected range for the dollar's interbank exchange rate is expected to be 42.75-43.25 hryvnias.

"The currency market is entering a phase of stabilization, which could positively influence the exchange rate situation in Ukraine."

Tar as Lisovyi

This stabilization of the currency market is a significant signal for the country's economy, as it may reduce the volatility of the hryvnia and improve predictability for businesses and consumers. The National Bank's interventions help support the national currency's exchange rate, which can influence inflationary processes and the overall economic climate in Ukraine. Monitoring further market developments is crucial for assessing their impact on the nation's financial stability.