Dollar exchange rate: Horizon Capital's forecasts until 2024

Investment company Horizon Capital has made a forecast for the dollar exchange rate by the end of 2023 and for the next year. According to the forecast, the dollar is expected to rise slightly to 39 hryvnia per dollar by the end of 2023 and to 42 hryvnia per dollar in 2024.

This was stated by Horizon Capital Senior Partner Vasyl Tofan, who cited these data in an interview with Forbes.

Tofan emphasized that the hryvnia exchange rate in Ukraine reflects stability. He believes that the commercial rate will not exceed 39 hryvnia to the dollar by the end of this year. Next year, the exchange rate is expected to be around 42 hryvnia to the dollar.

At the moment, the retail dollar exchange rate is 37.3 hryvnia to the dollar, and the euro is estimated at 41 hryvnia to the euro.

Tofan also noted that the National Bank of Ukraine's foreign exchange reserves are much higher now than before the full-scale invasion. As of May 2023, they amounted to $37.3 billion, which is significantly higher than the level at the end of February 2022, when the reserves amounted to $27.6 billion.

Horizon Capital's forecasts on the dollar are important information for citizens and businesses. The results of the investment company's analysis give a general picture and predict the possible dollar rate in the near future. This helps businesses and individuals plan their financial strategies and avoid risks.

It is worth noting that many factors can affect the national currency exchange rate. The political situation, macroeconomic indicators, and international events all play a role in shaping the dollar. Therefore, forecasts are only a guide and do not guarantee the exact movement of exchange rates.

At the same time, the availability of stable foreign exchange reserves at the National Bank of Ukraine is an important factor that contributes to strengthening confidence in the national currency and the stability of the financial system. Supporting the economy and financial stability is a priority for the authorities and regulators.