Exchange rate: what will happen to the dollar, euro and hryvnia exchange rate

Exchange rate

Exchange rate

The exchange rate has changed significantly in recent days. Such news about the increase in the official exchange rate of the dollar caused panic among the population. Some began to actively purchase currency, others – to prepare for raising the prices of goods and services. 

On July 21, the NBU immediately raised the official exchange rate of the dollar by 25%, fixing it at 36.57 hryvnias. Accordingly, exchange rates against the hryvnia also rose sharply. In addition, immediately  Speculative manipulations began in exchange offices, where it became possible to buy a dollar for at least 40 hryvnias. 

“This decision will directly affect the course of operations for exporters and importers. They buy currency in the non-cash segment of the foreign exchange market. Today, the following conditions apply to it: the rate of sale and purchase of currency cannot deviate by more than 1% from the official one. Such a change in the non-cash segment of the foreign exchange market is expected. It will increase the inflow and, accordingly, the sale of foreign exchange earnings by exporters, minimize the speculative component of the behavior of market participants and make it possible to stabilize exchange rate expectations,” the National Bank emphasizes. 

If the exchange rate is no longer fixed, then it is worth waiting for its growth. The price range will be UAH 37–38/dollar. If the foreign exchange market maintains its official stability , then there is a possibility that the exchange rate will be in the range of UAH 35.10–36.30.


Photo: Pexel


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