The reference value of the hryvnia exchange rate to the dollar, according to the National Bank of Ukraine (NBU), on Friday at 12:00 decreased to 27,0883 UAH / $ 1 from 27,0123 UAH / $ 1 a day earlier.
Quotations of the hryvnia exchange rate on the interbank foreign exchange market at 11:00 am amounted to 27.07 -27.12 UAH / $ 1, while at the end of trading on Thursday - 27.01-27.04 UAH / $ 1, Interfax-Ukraine dealers informed commercial banks.
In connection with the growing demand for currency, the NBU on Friday announced a sale auction of up to $ 50 million.
As the director of Treasury of Credit Dnepr Bank Oleg Kurinoy noted, the growing exchange rate trend and overcoming of the psychological barrier of 27 UAH / $ 1 reflects the prevailing demand for currency in comparison with the restrained offer of the exporters most interested in the expensive currency and having the opportunity to hold unconditional sales at the expense of the incoming VAT refunds at the end of July.
"The demand was formed by importers, farmers, converting the proceeds from crop sales, non-residents for the conversion of OVDPs repayments in late July, and for the withdrawal of dividends in early August, plus a speculative component, including at the expense of higher quotes in the real market. To speak of the stability of the decline trend the course is premature, it's more of a situational variation as a result of a combination of the reasons listed, "said the expert.
According to him, the further dynamics of the hryvnia exchange rate will be determined by the appearance of external and internal factors that influence the inflow of currency into the economy: the course of cooperation with the IMF, the data on the crop, the price situation for grain, metals, energy products, as well as the NBU's activity on smoothing supply imbalances and demand.
O. Kurinoy believes that in the absence of shocks, the hryvnia exchange rate will be in the range of 26.8-27.1 UAH / $ 1 in August, and will remain within the framework of the state budget-2018 until the end of the year.
In turn, Vladislav Kravets, chairman of the Board of RVS Bank, believes that the main factor that currently exerts the most significant pressure on the hryvnia rate is the withdrawal of dividends in early August.
"In the coming days, the rate will equalize, and for a period of 1.5-2 months will be in the range of 27-27.4 UAH / $ 1. The NBU will smooth out sharp fluctuations, but will not hinder the trend," added the banker.
03 August 2018