Currency Exchange Rate Forecast: Could the Dollar Rise to 45 Hryvnia by the End of the Year.

Economist Danylo Monin warned of a possible significant weakening of the hryvnia by the end of 2024. In his opinion, the National Bank of Ukraine (NBU) will find it difficult to maintain the dollar exchange rate at the level of 41-42 hryvnias.

The NBU can do this (maintain the hryvnia rate, – ed.), but other factors indicate the impracticality of this action now. - Danylo Monin

The economist believes that the situation in the foreign exchange market is likely to develop according to a depreciation scenario.

One of the main reasons for the expected depreciation, Monin says, is the average exchange rate of the dollar at the level of 45 hryvnias laid down in the draft state budget. This may prompt the NBU to start a planned depreciation process of the national currency.

Economist Forecasts

According to the economist's forecasts, by the end of 2024, the dollar exchange rate could reach 43 hryvnias, and the maximum level to which the currency can reach is 44 hryvnias.

The expert emphasizes that the current situation in the foreign exchange market requires careful attention to savings. He recommends choosing only reliable deposits to minimize risks in the event of a possible depreciation of the hryvnia.

Optimistic Forecasts

In turn, economist Oleg Ustenko, who previously was an advisor to the President of Ukraine, shared optimistic forecasts regarding the exchange rate.