Due to the record high grain production volumes in the current year in Ukraine, the revenues from grain exports will support the further strengthening of the hryvnia exchange rate. At the same time, such upward trend will take place not only in the autumn, but also in the long run, reported in the National Bank of Ukraine (NBU).
The record growth of grain yield figures in Ukraine is the other key factor of foreign exchange incoming to the state budget. At the same time, the proceeds from the exports of the record harvest still continued fueling the supply of foreign currency, and it is not the seasonal factor, but also the result of a new factor which will have the long-term effect on the situation development on the foreign exchange market, explained the officials.
To date, the situation on the foreign exchange market of Ukraine is quite favourable for the growth of UAH exchange rates. In particular, the trend appeared in terms of the high demand for government securities, as well as trends on the global capital markets and the Ukrainian exports. In the reporting terms, the devaluation rates of hryvnia can develop under the impact of psychological factors.
