Expert suggests forecast for hryvnia exchange rate by late May

The U.S. dollar and the euro continue to fall in price in Ukraine.

During the day, the U.S. dollar fell by 10 kopiykas, while the euro fell by seven kopiykas. Experts believe the trend toward strengthening the hryvnia will continue.

"The hryvnia exchange rate may range at UAH 25.9−26.75 to the dollar in May. The national bank will restrain fluctuations, but only if they are speculative and temporary. Now the market has sufficient supply of currency, which leads to the strengthening of the hryvnia exchange rate despite global risks, political changes and lowering of the key rate of the National Bank. The inflow of currency is provided by non-residents, Ukrainians abroad, and IT freelancers. It is important to note the May holidays are over, which were accompanied by low activity. Therefore, the activity will grow in the coming days," senior analyst at Forex Club Andriy Shevchyshyn said.

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It is worth noting in the current circumstances, the NBU is actively increasing its foreign exchange reserves. In particular, on May 2-11, the National Bank replenished the international reserves of Ukraine by purchasing $100 million in the interbank foreign exchange market. Since the beginning of the year, it has increased its reserves by $1.025 billion.