Dollar exchange rate to soar in May, experts warn of rampant devaluation of the hryvnia

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Vadim Bardas, business analyst and expert at the European Analytical Center, spoke this month about possible developments on the Ukrainian foreign exchange market.

This is reported by the NPF with reference to glavred.info.

In May, the hryvnia will be under pressure.
In May, the hryvnia expects a rampant devaluation. Photo: glavred.info.

According to the analyst, the national currency expects a “creeping” devaluation. The exchange rate will be affected by an economic crisis, as well as a drop in oil and energy prices.

In addition, a drop in energy prices will support the hryvnia. But the major risks for our currency remain the economic crisis and the reduction of the sales markets in Europe, Asia and the Middle East. which is fraught with a decrease in the export earnings of the currency.

Economics candidate Alexander Khmelevsky agrees with Bardas.

As a result, in May, analysts said, the rate will fluctuate between 27 and 28 hryvnia per dollar.

Previously reported on the exchange rate on May 5, 2020.

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