Financial Forecast for February 2026: Dollar, Euro, and Gold Price Outlook

Currency Market Forecast for February 2026

According to ХВИЛЯ: Financial expert Oleksiy Kozyrev has issued a forecast for the Ukrainian and global currency markets in February 2026, covering the hryvnia, euro, and dollar, as well as precious metal prices. According to his analysis, the euro-to-dollar exchange rate could fluctuate between $1.167 and $1.195 per euro that month. Meanwhile, the interbank rate for the US dollar is projected to range from 42.80 to 43.90 hryvnias, while the euro is forecast to trade between 49.94 and 52.46 hryvnias.

Cash Market Exchange Rates

On the cash market, Kozyrev predicts the dollar rate at banks will be between 42.60 and 44.00 hryvnias, with the euro between 50.10 and 52.10 hryvnias. Exchange offices operated by financial companies may offer the dollar at 42.70 to 43.95 hryvnias, while the euro could cost between 50.15 and 52.00 hryvnias.

Oleksiy Kozyrev noted that the National Bank of Ukraine might spend between $3.2 and $4.6 billion from its reserves to support the hryvnia in February 2026. He emphasized that he does not expect a major collapse of the hryvnia, but a significant strengthening of the national currency also seems unlikely at this time. These forecasts come amid ongoing economic pressures from the conflict with Russia.

The expert also highlighted that a potential rapid surge in gold prices could drive the metal to between $4,870 and $5,250 per ounce, with silver reaching between $89 and $135 per troy ounce.

Key events that could influence these markets include the US Federal Reserve meeting on January 28 and the European Central Bank meeting on February 5. In the US, Presidents' Day on February 16 may also impact financial market activity.

Oleksiy Kozyrev's projections indicate that Ukraine's currency market may remain under pressure in February 2026, despite the potential use of National Bank reserves to bolster the hryvnia.

Oleksiy Kozyrev

Decisions by the US and European central banks are among the factors that could significantly sway currency dynamics, which would in turn affect Ukraine's economic situation. Investors and businesses should monitor these developments closely to adjust their financial strategies accordingly.