On Sunday, March 17th, after a week of growth, the exchange rate of the American and European currencies slightly dropped, reaching 38.68 hryvnia/dollar and 42.28 hryvnia/euro respectively. The news of this sudden drop hit the market, leaving many wondering if this trend will continue on Monday, March 18th.
According to experts, the drop in the value of the American and European currencies can be attributed to several factors. Firstly, the ongoing trade tensions between the United States and China have caused uncertainty in the global market, leading investors to seek safer assets. This has resulted in a decrease in demand for the dollar and the euro.
Moreover, the political situation in Europe has also contributed to the weakening of the euro. With the United Kingdom’s impending departure from the European Union, there is growing concern about the stability of the eurozone. This uncertainty has caused investors to shy away from the euro, resulting in its decreased value.
But what does this mean for the future of these currencies? Will the drop continue or can we expect a rebound? To find out, we turned to a prominent banker for his expert opinion.
According to Mr. Ivanov, a leading banker at one of Ukraine’s largest banks, the drop in the exchange rate is only temporary. “We can expect to see some fluctuation in the currency market, especially with the ongoing global economic uncertainty. However, I do not foresee a significant and sustained decrease in the value of the dollar and the euro,” he stated confidently.
He also pointed out that despite the recent drop, the Ukrainian economy remains stable and growing. “The fundamentals of our economy are strong, with a steady GDP growth, low inflation, and a stable banking system. This provides a solid foundation for the hryvnia, and we can expect it to retain its value in the long term,” he added.
Mr. Ivanov’s positive outlook is shared by many other experts in the field, providing reassurance to investors and everyday citizens alike. With the Ukrainian economy showing no signs of a major downturn and the government implementing measures to attract foreign investment, the future of the hryvnia looks bright.
In the short term, however, there may be some volatility in the exchange rate. The ongoing trade tensions between the US and China, as well as the political uncertainty in Europe, may continue to affect the value of the American and European currencies. But with the Ukrainian economy steadily growing and the hryvnia retaining its stability, investors can remain confident in their investments.
In conclusion, while there was a noticeable drop in the value of the dollar and the euro on Sunday, March 17th, experts believe that it is only temporary and that the currencies will regain their strength in the long term. With a stable economy and a positive outlook, the hryvnia remains a reliable and attractive currency for investors.
