Financial analyst Andriy Shevchyshyn explained the phenomenon of the decline in the dollar rate in Ukraine, which lasted three months and was observed on the interbank and cash markets. In the last days of October and the beginning of November 2023, the dollar rate began to decline, and the expert explained this process as follows.
Interbank and cash markets are interconnected, and dollar flows between them can affect the exchange rate. Therefore, when the interbank dollar rate decreases, it can cause the dollar price to decrease in the cash market. This happened in October, when the dollar began to gradually decrease.
According to the data, the average selling rate of the cash dollar in Ukraine in October 2023 decreased by 0.1% and amounted to 38.05 hryvnias per dollar. On the interbank market, the exchange rate fell from 36.93 hryvnias per dollar at the beginning of October to 36.04 hryvnias per dollar by November 7.
Thus, the decrease in the dollar exchange rate in Ukraine can be associated with spillovers between markets and changes in demand and supply for the currency. This also means that the situation in the currency markets can change, and it is important to monitor the dynamics of the dollar exchange rate. It is important to note that the dollar exchange rate in different banks may vary, and investors and citizens are advised to monitor the current data.
