There has been a significant change in the cash dollar exchange rate in Ukrainian banks. According to forecasts, from April 21 to April 27, the currency’s value will fluctuate between 40.8 and 41.3 hryvnias. As of the evening of April 20, banks were buying dollars at an average rate of 41.05 UAH and selling them at 41.63 UAH. This indicates the possibility of a decrease in the exchange rate for both buying and selling.
This is reported by Finway
“It is unlikely that anything will significantly impact the exchange rate indicators,” said Taras Lesovyi, head of the treasury department at Globus Bank. However, he also acknowledged that it is very difficult to account for all the factors that may affect the currency’s value. “While the rates won’t skyrocket into space or plummet into the abyss, certain fluctuations are still possible,” he added.
Factors Affecting the Exchange Rate
Overall, a number of factors will influence the situation in the currency market, including:
- Easter Period. During the holidays, the supply of currency in the cash market increased by 10-15% as Ukrainians sold currency to purchase necessary goods. This led to the cash and interbank currency rates becoming more or less equal. It is expected that this situation will persist this week.
- Sowing Campaign. As Lesovyi noted, the activity of farmers is important for the economy, as their tax expenditures contribute to the strengthening of the hryvnia.
Expectations in the Currency Market
“It won’t be boring in Ukraine’s currency market. However, sharp changes should not be expected,” the banker concluded.