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A long weekend caused the weakening of the dollar.
Ukrainian analyst Yehor Komov says the forex rate of the hryvnia, Ukraine's national currency, may strengthen to UAH 24 per U.S. dollar in October, setting another record in four years.
"Now the balance of supply and demand indicates that, after an unexpected rise in price on sale, the dollar has reached an equilibrium point at about UAH 25.5 per U.S. dollar. I think that it may fall below this range in the near-term, and even reach UAH 24," he said.
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In this case, the forex rate of the U.S. dollar will be about the already usual mark of UAH 24.4-24.5 until Oct 20. On the one hand, a long weekend caused the weakening of the dollar. Traditionally, during this period, Ukrainians are selling foreign currency in order to offset expenditures. Given the positive trend in the market, analysts are sure no surprises in this regard should be expected in the near future.
As UNIAN reported earlier, trade on Ukraine's interbank forex market on Friday, Oct 11, closed at UAH 24.64/24.68 per U.S. dollar, which was 15 kopiykas lower than the closing price from the previous day.