Financial experts advising Ukrainian citizens have recommended buying foreign currency as financial insurance while exchange rate movements across Ukraine remain minimal.
Speaking to national news outlet TSN, economic analysts noted that although small exchange rate fluctuations continue, the domestic currency market has largely stabilized without sharp shifts.
Andriy Zablovskyi, head of the Secretariat of the Council of Entrepreneurs under the Cabinet of Ministers of Ukraine, stated that the present moment offers a favorable window to purchase foreign exchange, depending on an investor's specific goal.
Zablovskyi explained that domestic government loan bonds in hryvnia remain ideal for growing capital, while local currency bank deposits provide rapid liquidity. However, he noted that physical US dollars serve as the primary security for personal savings, making currency purchases a safe long-term move despite low interest returns. He added that euros should be bought if upcoming expenses are planned in the European currency.
Currency as financial insurance
Andriy Shevchyshyn, a financial analyst and member of the Ukrainian Society of Financial Analysts, supported the move to buy currency. He observed that the economic environment is sufficiently complex that purchasing foreign money should be treated as a hedge against risk rather than a profit strategy.
Offering a contrasting perspective on capital gains, Oleh Pendzyn, an expert with the Economic Discussion Club, urged individuals seeking returns to rely on hryvnia investment instruments. Pendzyn stated that citizens need not fear a sudden collapse of the national currency or rush into foreign money, though he advised against selling existing holdings of dollars and euros.
Exchange rate outlook for August
Providing a near term market outlook, Taras Lisovyi, director of financial markets and investment activity at Ukrainian commercial lender Globus Bank, projected steady trading conditions through August 23.
Lisovyi predicted that between August 17 and August 23, the US dollar rate will range between 44.6 and 45.2 hryvnias per dollar. During the same period, he expected the euro to fluctuate between 51 and 52.5 hryvnias per euro, suggesting the week will pass without substantial shifts.
