Bullish indicating open at $55-$60, IPO prices at $37
Investing.com -- Ukraine is contemplating a shift from the U.S. dollar and considering a closer link to the euro, Reuters reported, citing Central Bank Governor Andriy Pyshnyi. This potential change comes as global trade becomes more fragmented and Ukraine’s connections to Europe continue to grow.
The central bank is being prompted to reconsider the reference currency for Ukraine’s hryvnia due to several factors. These include the possibility of joining the European Union, the EU’s increasing role in bolstering Ukraine’s defense capabilities, heightened volatility in global markets, and the likelihood of global trade breaking apart.
Pyshnyi, in his email correspondence, stated that making such a shift would be a complex process requiring high-quality and versatile preparation. These remarks are the most explicit made by a Ukrainian official concerning a potential currency shift.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.