The Ukrainian foreign exchange market continues to show moderate dynamics. The National Bank of the country has set official rates for Monday, June 29, recording divergent movements of major foreign currencies. The US dollar continued to decline, while the euro, despite preliminary fluctuations, returned to growth.
Official NBU rates: dollar below 45 hryvnias
The Central Bank lowered the official rate of the American currency by 7 kopecks compared to the previous banking day. Now 1 US dollar costs 44.85 hryvnias. This confirms the current trend of the dollar moving below the psychologically important mark of 45 hryvnias.
The European currency showed different dynamics. After a brief decline, the euro began to rise again. The official exchange rate of the euro on June 29 was set at 51.13 hryvnias, which is 21 kopecks higher than the previous day's figure.
"Changing stability" mode
According to expert forecasts, the foreign exchange market in the coming days will continue to operate in a mode that can be characterized as "changing stability". Taras Lesovoy, Director of the Financial Markets and Investment Activities Department of Globus Bank, notes that there are currently no prerequisites for sharp exchange rate jumps.
Exchange rate values may react to individual news triggers, external conjuncture, or fluctuations in demand from importers, but these factors should not lead to market destabilization.
Importer demand and National Bank tools
The main driver of demand for foreign currency remains importers. Companies purchasing fuel and energy resources continue to generate significant demand. Experts point out that even in the event of a gradual decline in global fuel prices, companies may continue to build up stocks or hedge against possible new fluctuations, which supports demand for currency.
However, the current level of demand has already become familiar to the market and does not pose a threat to exchange rate stability. The National Bank is ready to use its tools to maintain balance. If necessary, the regulator may conduct currency interventions to compensate for excess demand and prevent sharp changes in the exchange rate.