Dollar Forecast for Late May and Early Summer
- Dollar expected to hover between 43.5 and 44.5 UAH
- Euro forecasted in the range of 50 to 52.5 UAH
- National Bank maintains key interest rate at 15%
According to banker Sergey Mamedov, the currency market is anticipated to remain stable, with no sharp fluctuations in rates by the end of the month and the onset of summer. He shared insights in a podcast on Finance.ua's YouTube channel.
Dollar and Euro Predictions
Under Mamedov's baseline scenario, the dollar is projected to maintain a level between 43.5 and 44.5 UAH. The euro's price will depend on global market conditions, with expectations ranging from 50 to 52.5 UAH. The "managed flexibility" regime allows the National Bank to smooth out excessive volatility in currency demand and supply.
Impact of the Interest Rate and Deposits
Mamedov highlighted the significance of the National Bank's decision to keep the discount rate at 15%, influencing money costs and the attractiveness of hryvnia deposits. Current deposit rates are averaging over 14% per annum, with promotional offerings reaching 16.5% to 17.5%. Such conditions ensure that hryvnia deposits remain an effective tool for protecting savings against inflation.