Analyst makes short-term forecast for hryvnia rate

Ukrainian analyst Vadim Iossub has said the hryvnia forex rate may decline from UAH 24.6 to the dollar to a record indicator for almost four years of UAH 24.4. The expert told the Ukrainian news outlet Obozrevatel the dollar in a week could be traded at about UAH 24.3 to the dollar in the interbank market. This could be a record high for the hryvnia in almost four years. A stable situation, a balance of supply and demand, positive sentiment on the part of investors and creditors – all this leads to a smooth growth of the national currency.

"We expect the dollar to slide against the hryvnia over the next week. In a week, the dollar in the interbank market could be traded at about UAH 24.4, while cash dollar in banks may reach about UAH 24.3/24.6," the expert said. As reported earlier, the dollar slowed down and traded in the interbank market at UAH 24.5-25.0. But starting Wednesday, it slid further, updating the hryvnia's record high from late January 2016.