European currency in recent months has become one of the most attractive sites for investment. Ukrainian banks in August and September recorded an increased public demand for euro cash and services for the conversion of currency in the EU and the U.S. dollar hryvnia deposits and to predict the end of the year, an increase in demand for a further 30-40%.

According to the financiers, the optimal moment for its acquisition this year will be mid-October and November.

Dollar disappoint investors

Fashion on the euro came to Ukraine from the world financial markets, where over the past few months actively spinning antidollarovaya campaign. The more the United States in the summer-autumn admitted their failures in the economy, the more frequently hear statements that the U.S. can no longer be the main reserve currency in the world. And although a number of his possible successors isolated euro and Chinese yuan, but few who believed in the financial possibilities of the Middle Kingdom to maintain such status of its currency, preferring the Euro-currency.

played along with her, and central banks. The last spoke in favor of Euro Central Bank of Iran, said he plans to transfer to it a large part of its gold reserves (as of October 1, 2008 they were $ 54 billion).

Antidollarovaya campaign resulted in more intensive exchange rate fluctuations in the euro-dollar pair. If they occur in August in the range of 1,41-1,44 $ /euro, already in September - 1,43-1,48 $ /euro (previous week - 1,47-1,48 $ /euro). However, the financiers did not recognize that from time to time lend themselves antidollarovoy hysteria, and, dropping the U.S. currency, used to give rational explanations for their actions.

The reason for the appreciation of the euro is primarily a flow of good news about the global economy. In fact, with an improving world economy, the dollar becomes less attractive in terms of currency of refuge, - told the director of the Treasury JSC Erste Bank Roman Bondar.

The euro is at a certain historical highs against the dollar, as investors prefer to invest in more profitable assets, and analysts confirm the outlook for economic growth in the eurozone, while stressing that they see no factors that could support a more active strengthening of the single currency , - added a head of treasury operations Platinum Bank Yury Serdyuk.

not without its speculative component. The growth of the monetary unit EU minimums ($ 1,236 /EUR) in the fall of 2008 to the present value of $ 1,48 /euro eloquently indicates the end of the speculative trend of the dollar, when in a crisis a general flight from risk Bax allowed to implement its main advantage - the main function the world's reserve currency. So the reverse movement of the dollar is, as economic fundamentals and speculative purely technical reasons, - noted the director of the department of operations on financial markets, Bank Finance and Credit Andrei Voitenko.

Besides the U.S. currency falls relative to Europe and even from an excess of its emissions by the U.S. government - supplemented his Advisor to the Chairman of the Board Ukrgazbanka Alexander Okhrimenko.

experts surveyed believe that the intense fluctuations in the pair euro-dollar will continue until the end of the year. Their intensity depends on the news about the state of the economies of the EU and the United States. According to the calculations of financiers, the EU currency will rise in price until mid-next month.

Her course will begin to sink somewhere in the middle of October - early November, - assured the Director of the Treasury OJSC CB Khreschatyk Alexey Kozyrev. It is assumed that the rising euro will be supported by positive economic reports, which the financiers are waiting for the European Union .

The experts differ in their predictions on parameters rollback Eurocurrency. Most of them believe that its value does not fall below $ 1,44-1,45 /euro, only some may be reduced to $ 1,4-1,42 /euro. However, whatever was a rise in the dollar, it will be temporary. In the end, the monetary unit of the EU will be at $ 1,5 /euro, - said an analyst at investment fund Interfon Victoria Kernysh.

With the purchase of euros worth wait

For many domestic firms increase of the euro has passed virtually unnoticed. The transaction with the dollar now accounts for 90% of all currency payments in our country. The proportion of operations with the Euro-currency accounts for only about 8-9%, all the rest - with Russia's ruble and the other currencies, - said Mr. Okhrimenko.

But with the weakening U.S. currency on world markets financiers allow greater the conclusion of new foreign contracts (in 2010) in euros. It is expected that this will push the foreign partners of Ukrainian enterprises.
Above all

currency fluctuations between the euro /dollar this year impressed the ordinary citizen. In the summer the population of very active remit part of their savings is in the Euro-currency. This is particularly felt in the moments when the exchange rate to settle at $ 1,38 /euro, and later, after a slight increase - to $ 1,4-1,41 /euro, -- Roman said Bondar.

Sale cash euros in September increased by almost 20%, it is expected that before the end of 2009, demand will increase, - added a president of corporate fund Rinaco-progress Dmitry Poddubniy. Common in August and September was the conversion to the euro, and deposits, which offered many of the financial institution to retain depositors. As a rule, it was transferred deposits in UAH, which expire in time, at least - in dollars.

Financial experts predict further growth in public demand for a monetary unit of the EU, although advised to buy it at cheaper. According to their calculations, while maintaining the current rate of hryvnia to the dollar in early November, the cost of Euro-currency exchangers in Ukrainian fall from the current 12,65-12,7 UAH /EUR to 12-12,1 UAH /EUR. Also promising, according to bankers, are investments in the less popular in our country's monetary unit.

In the long run, I would advise to pay attention to the Swiss franc, in the short term - for Russian Ruble. Frank has shown stable growth, and the ruble in recent years against the background of the stabilization of oil prices is enough to actively strengthened, - said Alexey Kozyrev. In addition, the appreciation of the end of the year financiers tipped to the Norwegian krone. It is projected that by the year Norway will be the least affected countries in Europe.

Elena Lysenko

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