The dollar rises in price due to the appointment of Shevchenko to the National Bank and the government bonds pyramid

The American currency is inadvertently becoming more expensive in Ukraine. Today (July 20, 2020) the rates in the currency exchange points have skyrocketed by UAH 0.20-0.30:

• banks sold USD at the rate of UAH 27.80-27.90 / $;

• banks bought USD at the rate of UAH 27.38-27.60 / $.

This happened simultaneously with the rise in the price of the dollar on the interbank foreign exchange market, where the exchange rate jumped by UAH 0.24- to UAH 27.67 / $ in half a day.

The surge in the foreign exchange market happened after the appointment of Sergei Shevchenko to the National Bank as chairman. Both businesses and the general public believed that he would raise the dollar rate. Consequently, they began to buy up the dollars, which resulted in the plummeting exchange rates.

Also, holders of UAH government bonds have become more active in the withdrawal of capital from Ukraine. These are the notorious creators of the government bonds pyramid, which wrote about many times. This sword of Damocles has been hanging over our currency market and the hryvnia for several years, and now it has begun to influence the exchange rate negatively.

Andrey Pshenichnyi for