Dollar exchange rate: Expert predicts end-of-year figures and future trends

The dollar exchange rate is expected to settle at around UAH 42-43 by the end of 2024, according to Olena Korobkova, Chair of the Board at the Independent Association of the Banks of Ukraine. 

Korobkova shared her forecast during a briefing at the Media Center Ukraine. 

“Based on my personal forecast, I believe the exchange rate will likely range between UAH 42 and 43 by the close of 2024,” Korobkova said. “The National Bank of Ukraine has deterrence tools to regulate the market, intervening in the foreign exchange market when necessary to stabilize rates. While it could reach UAH 41.5, such a scenario may lead to higher costs in the future. Thus, UAH 42-43 seems more realistic.”

Korobkova also warned of a strengthening dollar and advised citizens to consider diversifying their savings. Those holding euros, she noted, might benefit from shifting a portion into dollars to prepare for future shifts in the currency market.

“Given Trump’s recent statements outlining his priorities, I anticipate further strengthening of the dollar. We are already observing a decline in the euro-dollar pair, which suggests this trend will persist, leading to a further appreciation of the dollar. Ukrainians should think ahead—if their savings are in euros, diversifying into dollars would be a prudent move,” she concluded.

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