The exchange rate in Ukraine will be shaped in August mainly by the situation on the fuel market, according to Taras Lyesovy, director of the financial markets and investment department at Globus Bank.
Speaking to UNIAN, Lyesovy said that if oil prices remain stable or fall, this would support the currency market. He said the Ukrainian foreign exchange market is likely to keep relative stability despite existing risks.
Forecast ranges
Lyesovy forecast the dollar will trade between 44.5 and 45.5 hryvnia in August, while the euro will range from 51 to 52.5 hryvnia.
Under that forecast, 100 dollars would cost 4,450 to 4,550 hryvnia, and 1,000 dollars would cost 44,500 to 45,500 hryvnia. For the euro, 100 units would cost 5,100 to 5,250 hryvnia, and 1,000 euros would cost 51,000 to 52,500 hryvnia.
Lyesovy said the currency market's trajectory through the end of July would depend largely on whether the fuel factor could be kept neutral. He said that if energy prices do not begin rising sharply, the exchange rate will likely maintain its balance.
