August Forecast: Dollar Stabilizes at 44.7-45.7 UAH

Ukraine's economy is navigating uncharted territory as it grapples with war and economic sanctions. Despite this, experts predict relative stability in the currency market for August.

The dollar is forecast to trade between 44.7 and 45.7 UAH, while the euro is expected to range from 51 to 52.5 UAH, according to estimates by Serhiy Mamedov, vice president of the Association of Ukrainian Banks.

Mamedov attributes the hryvnia's relative stability to international financial aid, reserve buffers, and regular market interventions by the National Bank of Ukraine (NBU).

He notes that even if importers temporarily boost demand for currency, it does not automatically trigger a sustained depreciation of the hryvnia. Mamedov compares the situation to a pendulum, where fuel prices act as the primary driver of currency fluctuations.