In February, the hryvnia exchange rate will be at the current level of UAH 40.5/$; moreover, a number of factors will support the hryvnia. which will stabilize the situation in the economy. NV writes about this with reference to bankers' forecasts..

Thus, according to Alexander Pecheritsyn from Raiffeisen Bank, the hryvnia will be supported by the resumption of export flows through the expected stabilization of the grain corridor, as well as a gradual decrease in imports of power generators, and the rhythmic flow of international assistance will contribute to the ability of the NBU to reduce exchange rate fluctuations..

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“Also, in the absence of new geopolitical risks, devaluation fears in the cash market may remain low.. Therefore, we do not see significant grounds (at least now) for significant exchange rate fluctuations in February,” Pecheritsyn said..

Anton Boldyrev from Ukreximbank noted that their baseline scenario does not provide for significant fluctuations in the foreign exchange market, especially given that last week the NBU confirmed that there were no grounds for repegging the exchange rate and announced a further gradual tightening of requirements for banks' mandatory reserves for client funds.

“In the future, this may stimulate an improvement in the attractiveness of bank deposit products, redirecting part of the population’s foreign exchange demand to hryvnia assets. However, we can observe an increase in tension over a possible escalation of the situation at the front, which may become a factor in increased demand from the population,” he concluded..

Recall that earlier the NBU announced a sufficient level of gold and foreign exchange reserves to maintain the official hryvnia exchange rate..