Banker Anna Zolotko draws attention to the fact that in mid-November there was a moderate increase in the demand for foreign currency from the population. According to her, recent events have blocked the tendency to strengthen the hryvnia on the cash market.
What is essential to know about the situation on the foreign exchange market
The expert emphasizes that in mid-November, part of the additional demand was absorbed by non-cash channels of currency acquisition.
In addition, it is noted that a few days ago, the statistics of the National Bank recorded a slight increase in the average daily volume of dollar purchases by the population.
The banker draws attention to the fact that during the past week the cash rate for the purchase of US dollars was kept in a narrow corridor of 37.7 — 37.75 hryvnias per dollar. The situation in the cashless market has also changed significantly.
A favorable period for the hryvnia will soon begin
As Anna Zolotko notes, the beginning of the second decade of the month is traditionally a good period for the national currency.
In addition, a sharp revival of consumer demand may soon begin due to large-scale marketing activities on the so-called "Black Friday".
According to her, the expected sales and preparations for them will divert the hryvnia liquidity of the population from the foreign exchange market.
Because the gap between non-cash and cash rates remains quite significant, we should expect a moderate strengthening of the hryvnia in the cash segment.