Exchange rates: experts warn of rising demand next week

25 June 2022, 10:32 | Economy
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The volume of sales of foreign currency by the National Bank from June 20 to June 24 decreased to $933.02 million from $1 billion 55.6 million a week earlier. However, next week the dollar may start to rise in price due to an increase in demand for the currency..

According to the NBU, it acquired $7.5 million last week, which is in the range of volumes of the last six weeks (from $5.5 to $8.3 million).. Net foreign exchange sales totaled $925.5 million, better than last week, but still quite a lot - the third-highest weekly intervention volume since the start of the war.

However, experts believe that in the period from June 27 to July 3, the growth of the dollar will continue (the goal is up to UAH 40/$). This was stated by the analyst of the Center for Exchange Technologies (CBT) Maxim Orishchak, writes "

“The theme of the last week is the upcoming decoupling of the fixed exchange rate. Against the backdrop of this news, in late June-early July, we can expect an increase in demand for dollars and euros from the population, which will push the exchange rate on the black market to 40 hryvnias. The expectation of an event for our population is a much more significant event than the actual decision-making,” the expert notes..



According to Oryshchak, if we are waiting for a floating dollar exchange rate in the country, preparing for the devaluation of the hryvnia and rising prices for gasoline, gas and food, then we will start buying foreign currency in order to somehow compensate for the future loss of our money savings..

He added that the NBU and other banks are considering the risk of the upcoming fall of the hryvnia, so they may impose restrictions on currency exchange in order not to incur losses as a result of the exchange rate jump.. In simple words, speculators will try to cut off the opportunity to make a profit, he explained..

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Recall that the NBU reacted to a sharp rise in the dollar's cash rate due to the so-called "




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