Expat Ukraine Forum

Expatriate Life => Q&A => Topic started by: Drathaar on 17:01 27-Dec-2019

Title: USD to UAH
Post by: Drathaar on 17:01 27-Dec-2019
Does anyone know why the exchange rate is dropping? I saw a prediction it will be down to 22 in January. The US economy is booming, so it should be going the other way.
Title: Re: USD to UAH
Post by: gregorycrs on 19:05 27-Dec-2019
Don't know why but can definitely feel the difference in buying power compared to this time a year ago!
Title: Re: USD to UAH
Post by: Ted on 19:55 27-Dec-2019
The rate has nothing to do on how good the US is booming, it is based on how well Ukraine is doing....the UAH is the fastest growing currency against the $ in the world right now. Investments in Ukraine and a rising economy will drip it into the 22 range. However the Ukrainians can control a little of it by adjusting some investments etc.

Try this guy  https://www.ubn.news/  and also get a daily email with highlights. Good info.

i.e. from today:

🔵Trying to break the hryvnia?s rise, the central bank bought $700 million worth of foreign exchange on Thursday ? its largest purchase of the year. In one day, the National Bank of Ukraine bought the equivalent of 10% of all currency bought to date, raising net purchases to $7.5 billion. The operation succeeded in weakening the hryvnia by three kopiyok, to today?s rate of 23.29 to the dollar.
🔵Oleg Churiy, first deputy governor of the central bank, writes on the NBU Facebook page: ?Strengthening of the hryvnia is a completely logical phenomenon in the context of accelerated economic growth, a rapid slowdown in inflation. and a decline in government debt to GDP. Taking advantage of the favorable situation, the National Bank continues to replenish international reserves.?
Title: Re: USD to UAH
Post by: Drathaar on 20:29 27-Dec-2019
I'm going to start feeling it soon. I remember reading a few years ago that Ukraine wanted to keep the rate around 25 UAH to the dollar. I liked that.