The state budget for the next year projects an average exchange rate of 47.1 hryvnias
The official exchange rate of the US currency in Ukraine may exceed 46 hryvnias per dollar by the end of the current year. This probability was voiced by economist Oleh Ustenko while commenting on ongoing processes in the foreign exchange market. This was reported by Minfin citing the Telegram channel of Novyny.LIVE, according to the portal PromPolitInform.
Pressure on the domestic currency market is currently caused by declining export revenues and high demand for foreign currency from businesses and the population. According to the specialist, the National Bank is forced to spend significant amounts to curb exchange rate fluctuations.
National Bank interventions
During September, the regulator spent over 5 billion dollars from international reserves on currency interventions. Such measures are aimed at preventing a sharp depreciation of the national monetary unit.
At the same time, the transition to the new exchange rate corridor occurred with a delay. Because of this, state reserves may have decreased faster than they would have under an alternative monetary policy scenario.
Factors of further dynamics
The future trajectory of the exchange rate will depend on several key indicators. Among them are the rate of hryvnia depreciation, the volume of currency demand, and the regulator’s ability to continue supporting the market.
According to the state budget figures for 2027, the Cabinet of Ministers projected an average exchange rate of 47.1 hryvnias per dollar. Meanwhile, by the end of this year, the American currency will cost 48.3 hryvnias according to budget projections.
Photo: Minfin
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