Currency exchange rate for the week: how Thanksgiving and Black Friday will impact the hryvnia

Currency exchange rate for the week: how Thanksgiving and Black Friday will impact the hryvnia

Financial analyst Oleksiy Kozyrev discussed the impact of holidays on Ukraine's currency market, particularly in the context of Thanksgiving and Black Friday, and forecasted fluctuations in the dollar and euro rates. Thanksgiving in the USA is celebrated on November 27, and this day is traditionally accompanied by a decrease in trading volumes in the interbank market, which will drop to 165-190 million dollars.

At the same time, important factors affecting the hryvnia rate are oil and gold prices. Brent crude is trading in the range of $60.5-64.2 per barrel, while gold exceeds $4150 per troy ounce. These indicators may influence investment decisions by market participants.

Currency Rate Forecast

Forecasting the currency rate for the week from November 26 to December 3, Oleksiy Kozyrev noted that the dollar quotations in the interbank market will fluctuate between 41.95 - 42.60 UAH, while euro quotations will range from 48.28 to 49.59 UAH. In banks, the dollar exchange rate will be 41.90 - 42.80 UAH, while the euro will be 48.50 - 49.60 UAH. In the exchange offices of financial companies, the dollar quotations will be 42.00 - 42.75 UAH, and the euro will be 48.60 - 49.55 UAH.

The National Bank of Ukraine plans to spend from $610 million to $870 million from reserves during the week, which may also affect the currency situation. Oleksiy Kozyrev pointed out that a significant number of clients traditionally postpone operations from this day to a regular working day. Investors, despite festive fluctuations, still do not believe in the constant stability of the situation.

“Exchange offices will undervalue the buyout rate of currency from citizens, which may cause additional concern among the population.” — Oleksiy Kozyrev

The decreased trading volumes in the interbank market in the USA during Thanksgiving may lead to a decrease in liquidity in the Ukrainian currency market, which in turn will affect the stability of the hryvnia. During this period, investors should be especially vigilant about changes in oil and gold prices, as they can significantly influence currency quotations. Overall, the situation in Ukraine's currency market will remain under close scrutiny from both the National Bank and market participants seeking opportunities to optimize their investment strategies.