The war hit the hryvnia – what puts pressure on the currency the most

The pressure on the Ukrainian hryvnia will ease as citizens who fled abroad because of the war return inland.

This opinion was expressed by Adviser to the Head of the President’s Office, President of the Kyiv School of Economics Tymofiy Mylovanov on the air of the national telethon.

He emphasized that during the war there is always pressure on the currency.

“Now a lot of money is leaving Ukraine to support people who have left. That is, people receive salaries or have savings, but, unfortunately, because of the war, they are forced to spend them in Europe, or in the USA, or in London,” the representative of the Presidential Office said.

According to him, before the war, the financial flow walked in the other directionUkrainians earned money abroad and sent money home, and now, on the contrary, they spend it in Europe.

In addition to the return of our citizens home, pressure on the national currency may reduce unblocking ports and, accordingly, the resumption of the export of goods, from which we will receive foreign exchange earnings.

What happens on the black market for currencies?

On Wednesday, June 1, the exchange rate of the US dollar on the black market of Ukraine weakened significantly and almost caught up with the rate in legal exchangers.

As of this morning, the average selling rate of the American currency is 35.56 UAH/USDand the average purchase price is 35.3 UAH/USD

At the same time, in legal exchange offices, the average sale is 35.50 UAH/USD

Earlier, financial markets analyst Ivan Uglyanitsa said that three different dollar rates have now formed in Ukraine and none of them, even the black market rate, does not correspond to reality.

“Because even the black market is a cash market, I think that it is also far from the market one, since it is also subject to the same restrictions as the big market. And volumes there have also fallen significantly,” Uglyanitsa said.

What is the real exchange rate?

A more or less market rate of the dollar can be calculated by analyzing the extent to which the economy fell during the war.

According to Uglyanitsa, this figure fluctuates around 55-60 UAH/USD

Earlier, Segodnya wrote when the National Bank would be ready to abandon the fixed dollar exchange rate and where it would be better for Ukrainians to buy American currency in order to save money.