According to analysts, the national currency in July will not go beyond 26 to 27 UAH per dollar. The average selling rate of cash Euro in July can vary in the range 30-31,5 hryvnia for one Euro.
This is stated in the press release, FOREX CLUB, which is available to UKRINFORM.
“According to analysts FOREX CLUB, the hryvnia exchange rate in July will fluctuate in the range 26 to 27 UAH per dollar”, — stated in the message.
It is noted that the seasonal trends continue to support the hryvnia from weakening the strong, but the speculative mood and the fluctuations in world prices for agricultural commodities and metals push the rate up.
The hryvnia influenced by a strong U.S. dollar and involvement in a trade war between the US and China are trading partners of Ukraine. The weakening of the Euro, the RMB and other local currencies of importers of Ukrainian products leads to lower potential for exports and reduction of foreign exchange earnings, on which the Ukrainian market reacts with higher prices.
Experts also point to the risk of devaluation associated with the approaching election campaign and social standards.
“On the hryvnia speculative pressure no prospects of receiving IMF tranche this year and the election campaign with an infusion of liquidity, increase of salaries and pensions. The increase of social standards, in terms of cautious economic growth, creates “inflationary overhang” and devaluation risks,” – says Andrey Shevchishin, a senior analyst at GK FOREX CLUB.
“The average selling rate of cash Euro in July can vary in the range 30-31,5 UAH per Euro”, — stated in the message.