Riding the trend: What to expect from the dollar exchange rate in the near future.

Doctor of Economic Sciences Alexey Plotnikov informed the editorial team of Novini.LIVE about the future of the dollar exchange rate.

What to Expect from the Dollar Exchange Rate

In January, the American currency rose by 25 kopecks (official exchange rate of the hryvnia to the dollar). The record price was set at 42.28 UAH/USD, but it can change daily in an upward direction. Ukrainians should not expect the dollar to decrease in value, considering the State Budget's forecasted figure of 45 UAH/USD. The regulator will gradually steer the rate towards a specific level.

In the near future, the American currency is expected to not exceed 42.50 UAH/USD, predicted Alexey Plotnikov. Therefore, there is no need for currency transactions with the intention of buying dollars at a better rate.

"The National Bank has stated that it will gradually weaken the hryvnia. Currently, it is at around 42 hryvnias and some kopecks. There is no reason to believe that the national currency will collapse within the next week, even considering Donald Trump's inauguration on January 20. The process of devaluation does not happen instantaneously, and the regulator will slowly adjust the figures towards higher values,” the expert noted.

In exchange offices, the price of foreign currency crossed a psychological threshold at the end of 2024. As of mid-January, financial institutions are selling the dollar at an average of 42.67 UAH, while purchasing it for 42.65 UAH.

Interestingly, on January 11, Ukrainians witnessed the crossing of another barrier: exchange offices set the selling rate at 43.04 UAH/USD. This was the maximum value, which lasted only a day in the currency market.

What Else Ukrainians Need to Know

We remind you that January might bring a dangerous period when the American currency could sharply increase in price. This concerns Donald Trump's inauguration, scheduled for January 20, 2025. It is possible that the dollar will react to this event with a price hike.

Additionally, we have reported that banks and exchange offices may not accept certain dollars. Financial institutions do not purchase counterfeit money, as well as significantly damaged or worn cash. Such notes will only be accepted for collection if the client agrees to pay for the currency exchange service at a foreign correspondent bank.