In Ukraine this month it is unlikely that the cash exchange rate of the dollar will change significantly. Now the exchange rate is quite stable, so nothing threatens the currency.
Alexander Parashchiy, head of the analytical department at Concorde Capital, spoke about this in a commentary to GLOBAL HAPPENINGS. According to him, some major changes in the market in June should not be expected.
“We shouldn’t expect anything bad, because the exchange rate is now stable. We see that the official exchange rate has remained stable for almost a year. We also see that the cash exchange rate is quite close to the official one and, most likely, somewhere at this level he will remain“, says the expert.
He noted that at present there is no special demand for a cash dollar in Ukraine. This demand is formed by the population mainly as a means of savings, adds Parasch. At the same time, it is clear that the US currency does not yet look like the best means for savings.
“And dollar inflation is quite high and dollar rates on the Ukrainian market are low, expectations for the dollar remain, in my opinion, more or less stable. At the same time, the hryvnia – bank accounts or government bonds in hryvnia – now looks like a much more interesting means of saving. Most likely, we should not expect any major changes in the market,” the specialist said.
He stressed that the situation will largely depend on the mood of the population. However, while the mood regarding the prospects for the economy remains more or less good, respectively, nothing threatens the hryvnia.
What can threaten the currency in the future?
As Paraschey noted, this is – drop in exports. “Towards the end of 2023, there may already be some options with worsening expectations, etc. But everything seems to be more or less stable for June,” he summed up.
GLOBAL HAPPENINGS reported that the exchange rate of the cash dollar in Ukrainian banks decreased slightly. On Wednesday, June 7, the cost of the American currency averages 36.9/37.3 hryvnia per dollar (buy/sell). Compared to Tuesday’s values, the buying rate has not changed, but in selling the dollar fell by 5 kopecks.
Source: Obozrevatel
I am a journalist who writes about economics and business. I have worked in the news industry for over 5 years, most recently as an author at Global Happenings. My work has focused on covering the economy news, and I have written extensively on topics such as unemployment rates, housing prices, and the financial crisis. I am also an avid reader and have been known to write about books that interest me.
