Experts release outlook for hryvnia forex rate in Nov, by year-end

Experts say the forex rate of the hryvnia, Ukraine's national currency, to the U.S. dollar may soon shift towards UAH 28 per dollar, but it may not exceed UAH 29 by the end of 2020.

Senior financial analyst at ICU Group Taras Kotovych says in the future, the quotations for the UAH/USD forex pair will return to the "corridor" of UAH 28.5-29 per U.S. dollar, RBC Ukraine wrote on November 12.

Experts from Idea Bank expect approximately the same forex rate, while allowing a gradual "sliding" of the hryvnia.

"We expect the forex rate corridor to be UAH 28.10-28.50 per dollar until the end of November, with a gradual devaluation to UAH 29 per dollar by the end of the year," Director of Idea Bank's Treasury Department Yaroslav Kabin said.

Analysts with Concorde Capital Investment Company predict the hryvnia forex rate at UAH 28.4 per dollar by the end of November.

Previous forecasts

On September 15, 2020, experts of the ICU investment group predicted that the weakening of the hryvnia against the U.S. dollar, which may be sold for UAH 29-30 per dollar by the year-end, would be moderate.

Read alsoHryvnia weakens to U.S. dollar on Nov 12On September 24, 2020, experts said that in the fourth quarter of 2020 the hryvnia forex rate might not exceed UAH 30 per dollar.

On November 11, 2020, analysts of the ICU investment group published a forecast, according to which the hryvnia will return to a gradual decline within a month.