Analysts believe that a gradual devaluation of the hryvnia is possible by the end of December.
By the end of the year, the dollar will rise in price, and its rate is expected to be at least 42 hryvnias.
This is reported in the financial markets review of the investment company ICU.
In the last week of November, the National Bank of Ukraine allowed the hryvnia to weaken to a new record level of 41.60 UAH/USD. The American currency will rise in price until the end of the year.
The overall currency deficit on the market increased last week due to increased demand on the interbank market. At the end of the week, the official dollar exchange rate rose by 0.6% to 41.58 UAH/USD. The cash rate in systemically important banks rose by 0.6% over this period to 41.4 – 41.8 UAH/USD.
“The key driver of the hryvnia exchange rate weakening last week was the interbank market, which formed a significant currency deficit last Wednesday and Friday, especially on the eve of and immediately after Thanksgiving Day, a holiday in the United States,” the review says.
The NBU increased interventions on Friday, November 29, but did not return the rate to its usual autumn limits – below 41.5 UAH/USD.
“It is unlikely that the pace of last year's weakening of the hryvnia will be maintained, but we believe that a gradual devaluation of the rate to at least 42 UAH/USD by the end of December is likely,” the forecast says.
Recall that earlier, expert Oleksandr Khmelevskyi voiced a forecast that in December the dollar exchange rate on the interbank market would fluctuate within the range of 41.4 – 42.1 UAH/USD.
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