A significant change in the official exchange rate of the US dollar is expected in Ukraine. Experts assert that in May, the rate will fluctuate between 41.6 and 42 hryvnias per dollar. In particular, the National Bank of Ukraine updated the rate on Monday, May 5, to 41.71 hryvnias, which is 12 kopecks higher than the previous one.
This is reported by Finway
“Overall, a number of economic factors will influence the currency market in May,” noted the head of the analytical department of “Financial Pulse,” Dilyara Mustafaieva.
Among these factors, it is important to highlight the monetary policy of the NBU aimed at strengthening the hryvnia, as well as the regulator’s currency interventions to reduce the gap between demand and supply of foreign currency. It should also not be excluded that the signing of an agreement with the USA regarding minerals may have an impact, although, as the expert emphasizes, “it is currently difficult to predict what will be in the text of the agreement.”
Other important factors that may affect the dollar exchange rate include the current state of the Ukrainian economy and the military situation in the country: “the course of hostilities, the economic damage caused by the enemy’s actions, the path to peace, and the ‘price’ for peace,” added Mustafaieva.
Predictions for the Dollar Exchange Rate in Banks and Exchange Offices
The director of the financial markets and investment activities department of Globus Bank, Taras Lesovyi, reported that the dollar price in banks and exchange offices next week (May 5-11) will be within the range of 41.2-41.6 hryvnias per dollar.
As of the evening of May 2, banks set the currency rate at an average of 41.3/41.9 hryvnias (buy/sell), while exchange offices set it at 40.97/41.57 hryvnias (buy/sell).
Thus, it is expected that in banks the rate will decrease for both buying and selling, while in exchange offices there may be an increase in both indicators. “Next week, the situation in the currency market will remain very promising,” emphasized Lesovyi.
The economic factors, as he noted, will ensure the stability of exchange rate indicators: “Next week will be quite calm and balanced. Currently, economic factors contribute to the exchange rates not being ‘volatile,’” concluded Lesovyi.