European and US dollar exchange rates: main trend pauses and possible euro decline next week
The upcoming week in the foreign exchange market is expected to bring surprises and a relatively calm period, as the dominant trend in recent days has 'paused.' According to the National Bank of Ukraine, the current situation with the euro and dollar exchange rates indicates a stabilization phase, although small fluctuations were observed during trading on Friday, July 4. The official hryvnia to US dollar rate on Monday, July 7, is set at 41.73 UAH/$, while the euro exchange rate is 49.12 UAH/€. Compared to the previous working day, the dollar gained only one kopeck, rising from 41.72 UAH/$ to 41.73 UAH/$, whereas the euro lost 6 kopecks, dropping from 49.18 UAH/€ to 49.12 UAH/€. This dynamic suggests that further growth in the euro's value in the upcoming days is unlikely; rather, it may continue to depreciate. Experts believe that several factors influence these fluctuations, notably the dollar’s weakening against other currencies, which has been linked to internal and external political developments, especially US policies following Donald Trump's election as president. It is forecasted that the euro might lose additional kopecks in the coming week, making it more attractive for importers and tourists but also posing challenges for Ukraine’s economy and banking sector.