The resignation of the head of the NBU impact on the dollar rate: forecast for a week

During the week the UAH has been weakened in all market segments

For a week the dollar against the hryvnia has significantly increased in all segments of the foreign exchange market by 1.4-1.8 percent. Thus, the official dollar exchange rate increased from 26.70 to 27,12 UAH, demand/supply of the dollar on the interbank market – from 26.70/of 26.72 to 27.17/27,20 UAH, and the average rate of purchase/sale of cash dollar in banks of 26.56/26,77 to 26.93/27,22 UAH. Such data to the website “Today” was provided by the senior analyst “Alpari” Vadim Iosub.

“The fall of the hryvnia, obviously due to the resignation of the NBU Governor Yakov Smoliy and concerns about the future independence of the national Bank in its monetary policy. It is noteworthy that, despite the market dynamics, the NBU stayed last week a net buyer of currency”, – the expert explains.

So, on 30 June, the regulator bought 169,8 million dollars, and from 1 to 3 July sold 150,9 million dollars. Thus, the net purchases for the week amounted to 18.9 million dollars. Since the beginning of the year, the regulator bought on a net basis 940,9 million dollars. This amount was replenished foreign exchange reserves.

The dollar fever: the experts explained, sell or buy currency

“At the beginning of the week we expect growth of the dollar against the hryvnia. The dollar on the interbank market can be traded in a week near 27,6-27,7 UAH and the cash dollar in banks can be traded around 27,3/27,7 UAH”, – said Iosub.

We will remind, the head of the national Bank of Ukraine Yakov Smoliy of July 1, wrote a letter of resignation. The next day, the President has submitted to Parliament draft resolution on dismissal. June 3 the Verkhovna Rada has agreed to dismiss Smoliy from the post of Chairman of the NBU.

About why the chief banker of Ukraine has decided to leave his post and on his merits in strengthening the hryvnia, see story, “Today”: