Ukraine may switch from the dollar to the euro: how this will affect the exchange rate.

The transition of Ukraine to peg the hryvnia to the euro may take place no earlier than 2026-2027

Financial expert Oleksiy Kozyrev stated that Ukraine may transition to pegging the hryvnia to the euro no earlier than the end of 2026 or the beginning of 2027. This is possible after increasing the share of trade in euros and attracting European investments. When switching to the euro, it is necessary to consider economic feasibility and military risks.

The expert also noted that the US dollar remains the most universal means of payment, and instability in global markets affects the hryvnia exchange rate regardless of the currency. Currently, the National Bank of Ukraine has dollar assets in its reserves. However, the transition to the euro may contribute to currency stability in the country.

• Necessary conditions for the transition to the euro:
• Prevalence of exports and imports in euros
• Integration into state processes of the EU
• Achieving peace with security guarantees
• Attracting strong European investments
• Compliance of Ukrainian principles with EU democracy

The expert noted that currently Ukrainians are more willing to hold dollars, which is reflected in the distribution of their currency savings.

It should be noted that the dollar exchange rate in Ukraine continues to rise and is approaching 42 hryvnias per dollar. KIT Group forecasts indicate an increase in the dollar exchange rate to 44 hryvnias, while the euro will fluctuate between 43 and 44 hryvnias. However, the National Bank of Ukraine has enough tools and resources to ensure the stability of the currency market with record international reserves of 43.8 billion US dollars.