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USD exchange rate is forecasted within 27.80-28.05 UAH, – OTP Bank analysts

30/ 03/ 2021
  The USD rate fluctuations may reach 27.80-28.05 UAH/USD this week until April 2, OTP Bank analysts consider. According to them, the market did not expect such a strong movement of the rate. That could stem from the global market influence and the USD growth against all the currencies. Also, the increase in the USD/UAH exchange rate coincided with the government bonds retirement in non-residents portfolios and future VAT payments, to which the market reacts in advance. In addition, sellers, having the expectations of the rate growth, suspend sales and take observer positions. Whereas panicky buyers who had postponed their contracts until the best rate earlier, on the contrary, made harsh buying decisions, realizing that the rate went up, OTP Bank analysts note. At the same time, they do not exclude the further increase in the rate up to 28.00-28.10 UAH / USD over the expectations of UAH weakening of the hryvnia amid large VAT re-payments. After that, in their opinion, one should expect a seasonal UAH strengthening of the hryvnia down to 27.50-27.60 UAH/USD with possible fluctuations within 27.50-28.00 UAH/USD. Joint Stock Company OTP BANK is one of the biggest Ukrainian banks with foreign capital, which is a recognized leader in the countrys financial sector. The bank provides a full range of financial services for corporate and private clients, as well as small and medium-sized businesses. It has been represented on the Ukrainian market since 1998, has a strong reputation as a socially responsible, reliable and stable structure offering consumers services of European quality. Its 100% owner is the largest Hungarian bank OTP Bank Plc. Since 2019, according to the decision of the NBU, OTP Bank has been included in the list of systemically important banks in Ukraine that have a significant impact on the development of the countrys financial system. In Ukraine, OTP BANK JSC acts as the flagship of the OTP banking group, registered by the National Bank of Ukraine, which also includes AMC OTP Capital LLC and OTP Leasing LLC. Follow OTP Bank news on social networks Facebook, Twitter, Youtube, Instagram, Telegram and Viber.

The USD rate fluctuations may reach 27.80-28.05 UAH/USD this week until April 2, OTP Bank analysts consider.

According to them, the market did not expect such a strong movement of the rate. That could stem from the global market influence and the USD growth against all the currencies. Also, the increase in the USD/UAH exchange rate coincided with the government bonds retirement in non-residents’ portfolios and future VAT payments, to which the market reacts in advance. “In addition, sellers, having the expectations of the rate growth, suspend sales and take observer positions. Whereas panicky buyers who had postponed their contracts until the best rate earlier, on the contrary, made harsh buying decisions, realizing that the rate went up,” OTP Bank analysts note.

At the same time, they do not exclude the further increase in the rate up to 28.00-28.10 UAH / USD over the expectations of UAH weakening of the hryvnia amid large VAT re-payments. After that, in their opinion, one should expect a seasonal UAH strengthening of the hryvnia down to 27.50-27.60 UAH/USD with possible fluctuations within 27.50-28.00 UAH/USD.

Joint Stock Company “OTP BANK” is one of the biggest Ukrainian banks with foreign capital, which is a recognized leader in the country’s financial sector. The bank provides a full range of financial services for corporate and private clients, as well as small and medium-sized businesses. It has been represented on the Ukrainian market since 1998, has a strong reputation as a socially responsible, reliable and stable structure offering consumers services of European quality. Its 100% owner is the largest Hungarian bank OTP Bank Plc.

Since 2019, according to the decision of the NBU, OTP Bank has been included in the list of systemically important banks in Ukraine that have a significant impact on the development of the country’s financial system.

In Ukraine, OTP BANK JSC acts as the flagship of the OTP banking group, registered by the National Bank of Ukraine, which also includes AMC OTP Capital LLC and OTP Leasing LLC. Follow OTP Bank news on social networks Facebook, Twitter, Youtube, Instagram, Telegram and Viber.

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