A new agreement with the Fund can strengthen the national currency by the end of the week.
The new agreement with the International monetary Fund could strengthen the hryvnia to the end of the week, on Friday, cash dollar exchange rate may be set at a level of 28.3-28, 7 grn. This opinion was expressed by a senior analyst at Alpari Vadim Iosub, reports the Chronicle.info with reference to the Correspondent.
Over the past week the dollar against the hryvnia has increased markedly in all segments of the foreign exchange market 0.8% and 1.7%, said the expert. But in the conditions of a floating exchange rate growth currency should be replaced by its fall.
“For Ukraine, the trigger may be the conclusion of a new agreement with the IMF. In these circumstances, it makes sense to diversify the currencies in which savings are stored between the hryvnia, the dollar and the Euro. At the beginning of the week we anticipate moderate growth of the dollar against the local currency. The dollar on the interbank market can be traded after a week in close proximity to 28.3 UAH and the cash dollar in banks can be traded around 28,3/28,7 UAH”, — the expert believes.
On world markets the dollar strengthened everywhere, this is attributed to capital flight amid pandemic coronavirus, as well as lower exports due to the collapse of the economies of trading partners in terms of the almost universal introduction of the quarantine mode.
Maxim Parkhomenko, an analyst at Alpari, said that the situation on the currency market and the dollar will depend on the amount of funds allocated to Ukraine by the International monetary Fund, as well as speed the adoption of this decision.
“For now it is clear that the allocation declared by the President, $ 10 billion will be enough to stabilize the economy,” he said.
According to him, in this case, the depreciation will slow down and come to the market stabilization.
“In this period we can observe the rate of 28 USD. Any delay and speculation will put pressure on the exchange rate further,” he added.