The hryvnia exchange rate against the dollar gradually continues to strengthen

2021-06-07 12:01:27
Machine translation
The hryvnia exchange rate against the dollar gradually continues to strengthen

Under the pressure of an increase in currency supply on the interbank market, the dollar exchange rate on Friday from the morning 27.32/27.34 UAH/. at the end of trading decreased to 27.24/27.26 UAH/., and only the purchase of excess currency by the National Bank stopped further decline.

 

At Friday's auction, buyers were in no hurry to buy foreign currency on the interbank market and offered no more than UAH 27.20/. for it, so sellers were forced to meet it halfway, which led to a decrease in quotations.

 

To avoid a collapse of the exchange rate, the National Bank entered the market after lunch and bought доларів 20 million at the rate of UAH 27.25/., which stabilized the exchange rate.

 

According to analysts, the hryvnia will strengthen throughout the summer due to an increase in foreign exchange earnings in Ukraine against the background of a good harvest and high prices for cereals and oilseeds.

 

The recovery in economic activity is slower than expected, so the increase in export rates will exceed the increase in imports of goods and services, which will also play in favor of the hryvnia. In addition, quarantine restrictions will deter Ukrainians from vacationing abroad, which will reduce the seasonal growth in demand for foreign currency from tourists.

 

Market experts believe that in the absence of negative factors, the hryvnia exchange rate will be 27.0-27.5 UAH/. and will remain at this level until the end of summer.

Visitors’ comments (0):