In Ukraine, there is a sharp depreciation of the national currency, so, on Thursday, the US dollar was already given 29 hryvnia. On January 27, President of the Ukrainian Analytical Group Alexander Okhrimenko told Izvestia about this.
“Relatively recently, there was a rate of 27 hryvnia,” he recalled.
According to the expert, the reason for the rise in the US dollar in Ukraine was “war hysteria.” Thus, investors are withdrawing their capital, Ukrainians are buying up foreign currency, and currency speculators have become more active, withdrawing foreign currency offshore.
“As soon as the information passed that the US Embassy recommended its citizens to leave Ukraine, the dollar exchange rate rose by 30 kopecks at the auction,” the financier said.
The National Bank sells foreign currency daily, more than $1 billion has already been sold. But the currency is not sold to everyone, and the regulator’s goal is to slow down the devaluation process, Okhrimenko added.
As soon as information appeared that Russia would allegedly attack Ukraine, problems began with the hryvnia exchange rate, the expert noted. Non-residents began to sell government bonds and buy US dollars. This was a consequence of the fact that investors were afraid of news of a possible war.
Okhrimenko added that currently oil prices have risen, for Ukraine this means an increase in prices, as the country buys hydrocarbons.
He noted that the Cabinet of Ministers of Ukraine first promised inflation at 5%, then at 7%. But it will be higher, the specialist is sure.
According to him, participants in the shadow economy will benefit from the growth of the dollar, while citizens working in the open sector will lose money. Some of the “shadow companies” sell dollars for 29.5 hryvnias, while they bought them for 26.
As Okhrimenko recalled, the National Bank of Ukraine is independent of the country’s authorities and the government cannot tell the regulator how to act in such a situation.
Earlier that day, macroeconomic adviser to the general director of Otkritie Broker JSC Sergey Khestanov told Izvestia that the dynamics of the Ukrainian hryvnia is very similar to the dynamics of the Russian ruble. However, the movement of both currencies, which has been observed recently, is significant, but not extreme.
Earlier on the same day, the National Bank of Ukraine set the official hryvnia exchange rate for January 27: 28.79 per dollar and 32.48 per euro. The last time such a course was four years ago.
Source: IZ
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
