Ukrainians exchange 'under-mattress dollars' for euros: expert explained the anomaly.

The dollar exchange rate on the black market in Ukraine has fallen below the official exchange rate. This was stated by Serhiy Fursa, an investment banker and deputy director of Dragon Capital, in his column for NV.

According to Fursa, the dollar exchange rate on the black market was 41.1 hryvnias, while the official rate was 41.4 hryvnias per dollar. This situation only concerns the American currency and is a consequence of the situation with the euro on the black market.

"It seems that not only farmers and their bags of dollars are to blame. It looks like Ukrainians, both ordinary citizens and workers in the gray economy, who usually stockpile dollars, have felt where the wind is blowing in the world and started to exchange their dollars for euros," the banker explained.

Fursa also noted that global trends may affect trust in the dollar, in particular, the reserve status of the American currency is in question, and inflation expectations in the USA have reached record levels in the last 40 years. The euro to dollar exchange rate remains stable.

Fursa also discussed the decision of the National Bank of Ukraine to keep the discount rate at 15.5%. According to the expert, this may indicate the end of the period of rising prices in the economy.