Despite the weakness of the hryvnia, there will be no fall in the exchange rate over 40 per dollar - the expert explained why

02 July 2022, 16:45 | Economy
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Despite the weakness of the hryvnia, which the war in Ukraine pours into, the fall of the hryvnia by more than $40 will not happen in any case. This was stated by an analyst at the Center for Exchange Technologies Maxim Orishchak, writes Segodnya..

The analyst does not expect a sharp drop in the hryvnia over $40.

Firstly, banks will not buy currency at such a rate, since they themselves set the buying and selling rate in the country.

Secondly, as long as the country's external financing is maintained, a default should not be expected.. Thirdly, due to the seasonal factor, the demand for foreign currency does not grow in July, Orishchak emphasizes..

In addition, the expert believes that the demand for currency from the population will not grow..

The decision on a floating exchange rate will not give a devaluation impetus, just like the printed hryvnia. In addition to low incomes of the population and exhaustive cash reserves, we have restrictions on withdrawing money abroad.

In general, the stability of the Ukrainian foreign exchange market is supported by the sufficiency of the country's gold and foreign exchange reserves for interventions (over 25 million.

US dollars), a financial grant from the United States in the amount of 1.3 billion. dollars and seasonal factor.

The weakness of the hryvnia is supported by the war in Ukraine, which is fraught with a default against the backdrop of a falling economy and lost infrastructure and territories, as well as the future floating hryvnia exchange rate, the expert believes.

According to Orishchak, next week, from June 4 to June 10, the selling rate of the US dollar will fluctuate within 35.4 - 36 hryvnia per dollar.

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