The dollar is unstable: analysts revealed what to expect for the hryvnia by the end of the year.

Stabilization of the currency market in Ukraine at the beginning of 2025

Analysts from KIT Group report that the currency market in Ukraine is beginning to show signs of stabilization at the beginning of 2025. After fluctuations in rates during the New Year holidays, the situation in the market is gradually normalizing, and the hryvnia exchange rate remains stable due to internal and global factors.

The dollar exchange rate is currently maintained within 41.37-42 hryvnias after a peak increase to 42.28 hryvnias. This was facilitated by an increase in the supply of cash currency and the National Bank of Ukraine's increased discount rate to 14.5%.

At the same time, the euro has weakened after the European Central Bank reduced interest rates. Investors are actively moving from euro to dollar, leading to the weakening of the European currency. Currently, the euro exchange rate in Ukraine is 43.2-43.9 hryvnias.

According to analysts' forecasts, the dollar exchange rate may fluctuate within 41.8-42.5 hryvnias over the coming months and may reach 45 hryvnias by the end of the year. Regarding the euro, a possible decrease in the exchange rate to 42.5 hryvnias is anticipated in the medium term.

Experts from KIT Group recommend that businesses and investors keep a portion of their funds in a stable currency to protect against exchange rate fluctuations. The US dollar remains the most stable currency, especially due to the monetary policy of the Federal Reserve System.

Previously, approaches to exchanging dollars in Ukraine were changed: banks and exchange offices accept certain banknotes.