The hryvnia under pressure, an expert has predicted the dollar exchange rate in Ukraine

The analyst called the main risks for Ukrainian currency

Dollar after a decline in the official exchange rate of the NBU on 12 June fell slightly in price in the interbank currency market of Ukraine is the hryvnia 26,71. Such data to the website “Today” was given the head of Department of Analytics GK Forex Club Andrey Shevchishin.

According to him, such dynamics is observed after the NBU reduced the discount rate to a record minimum of 6%.

“Coming onto the market liquidity of the hryvnia, continued exit of nonresidents Ukrainian bonds, as well as growth of profitability of Ukrainian Eurobonds pressure on the exchange rate,” said the Shevchishin.

He also recalled that the international monetary Fund (IMF) downgraded economic forecast for Ukraine for the years 2020-2021, and world stock and commodity markets fell more than 5% amid fears of a new wave of a pandemic and quarantine.

“Developing countries against the background of these concerns become unattractive for investors, which is reflected in the fall in the value of assets and currencies of these countries. Ukraine is not an exception. Non-residents continue to come from government bonds. Perhaps, amid such low expectations, the hryvnia may weaken and go into the range of 26.6 to 26.9 UAH/USD.”, – predicted the analyst.