Hryvnia may weaken in December – expert

According to him, in November, the hryvnia stopped its long-term strengthening against both the dollar and the euro.

"In November, the hryvnia fell against both the dollar and the euro, and the growth of the dollar was much stronger. A series of eleven months of dollar decline (from December last year to October) and six months of euro decline (from May to October) was interrupted,” the expert said.

He explained that from the middle of the month the hryvnia was pressured by the aggravation of the situation on the Ukrainian-Russian border. Moreover, at the end of the month, a "common disaster for most currencies of developing countries” occurred, which was associated with the new Omicron coronavirus variant.

According to the official exchange rates set by the NBU, in November 2021 the dollar rose from UAH 26.3265 to 27.1739 UAH (+3.2%). Over the same period, the euro exchange rate grew from UAH 30.5032 to UAH 30.6481 (+ 0.5%). More modest growth of the European currency against the dollar is associated with the decline of the euro against the dollar in the global foreign exchange market.

At the same time, since the beginning of 2021, the dollar has decreased against the hryvnia by 3.9%, and the euro - by 11.8%.

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