The dollar exchange rate in Ukraine may return to growth and cross the mark of UAH 39/USD. already in the spring of 2023. This means an increase in the price of the American currency by 20-40 kopecks, because at the end of March the rate stabilized at the levels of UAH 38.4-38.8/USD.
This was told by the dealer of the department of global markets of OTP Bank Anton Kurenny, writes “Channel 24”. The banker noted that the demand for foreign currency in Ukraine has decreased.
However, the recent depreciation of the dollar also reduces the popularity of foreign currency deposits. We are talking about dollar deposits, when a bank client buys non-cash “bucks” for hryvnia and immediately deposits them on a deposit, and after 3 months he already takes the currency.
There are no other legal ways to buy a non-cash dollar in the country now, so such deposits have become popular. As a result, the demand for “bucks” was stretched in time and did not have a shock effect on the exchange rate, and the non-cash currency withdrawn from deposits fell on the Ukrainian market and increased the supply of the dollar, which led to the strengthening of the hryvnia.
“The demand for the currency has fallen, so we expect testing of the level of 38 UAH / USD. But these levels reduce the interest in opening three-month foreign currency deposits, so after a while it will start to put pressure on the cash exchange rate and bring us back to the level of 39 UAH,” explained banker.
At the same time, the decision of the International Monetary Fund to provide Ukraine with a financing program can support the hryvnia, Kurenny said. However, imports in monetary terms still exceed exports, so positive signals from the IMF may affect the dollar only in the short term, the banker warned.
As GLOBAL HAPPENINGS reported, according to ICU analysts, the real dollar exchange rate in Ukraine is expected to reach UAH 40.2/USD by the end of 2023. That is, sharp fluctuations in the foreign exchange market this year is not predicted.
Source: Obozrevatel
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