Euro exceeds 51 hryvnias for the first time this year: is it worth buying the currency?.

According to ТСН: As of mid-January, the euro exchange rate has risen by 22 kopecks and stands at 50.92 UAH. Since the beginning of the month, the euro has increased by 82 kopecks. The dollar exchange rate is 43.58 UAH, which is one hryvnia more compared to the beginning of the month.

In exchange offices, the dollar is bought on average for 42.98 UAH, and the euro for 50.17 UAH.

On the interbank market after trading on January 12, the dollar rate fluctuated in the range of 43.28-43.31 UAH per dollar, while the euro rate was 50.55-50.57 UAH.

Economic trends and expert advice

An expert notes that the National Bank of Ukraine has the largest international reserves in history — 57 billion dollars. Therefore, there are no grounds to talk about a currency deficit in Ukraine as a cause of the exchange rate increase.

According to him, in the next two to three months, currency buyers are unlikely to be able to take advantage of the exchange rate difference, especially if investments are less than 1 thousand dollars. It is likely that the maximum exchange rates have already passed in the first quarter of this year. In addition, to make a profit, there must be a significant difference between the buying and selling rates of the currency in the future.

“Therefore, I would not advise buying currency with 'all money' in hopes of making a profit. Since inflation is characteristic not only of Ukraine but also of the USA and the EU. 'Freezing' funds in currency does not guarantee losing their purchasing power, no matter how stable the currency may be,” added Sergey Mamedov.

Let us remind you that earlier another banker explained, why the dollar exchange rate is rising. According to him, this trend is related to the fact that the demand for currency exceeds its supply, which may continue until the end of January. Later, the demand for the dollar will begin to decrease, and the official rate will stabilize at certain levels.

Thus, the situation in the currency market in Ukraine remains dynamic. Despite the existence of large international reserves, the instability of supply and demand continues to influence exchange rates. Experts recommend approaching currency purchases cautiously under current conditions and considering economic trends before making decisions.