The spread at exchange points practically negates the profit from short-term currency speculation for most citizens. The difference between buying and selling rates mostly "eats up" the potential gain, especially if a person exchanges not millions, but thousands of hryvnias. Catching the optimal moment to buy or sell currency without constant market monitoring is practically impossible.
This is stated in the material of "Dilova Stolytsia".
"We do not advise chasing the exchange rate, it makes no sense if a person does not do this constantly. If there is a need to exchange currency once or twice a month, then a stable, trusted company with a reputation on the market is the best and safest choice," note analysts of the financial marketplace KYT Group.
Non-professionals often lose when they buy currency during its appreciation period. News headlines about the dollar's rise can fuel confidence that it will continue to rise, but real data says otherwise.
Over the past year, the currency in Ukraine appreciated fastest in the period from December-January to March-April. It was during this time that there were more people willing to buy dollars and euros. However, if someone wanted to make money by reselling currency during this time, they would have had to buy it back in December and hold it for several months before selling. If you buy currency at the April rate, the subsequent increase in value is simply "eaten up" by the spread during resale.
Therefore, the strategy of an ordinary Ukrainian should be to buy currency to preserve savings from inflation, which the National Bank forecasts at 9.4% by the end of 2026. It is better to buy currency in small amounts and regularly, as well as to diversify savings.
"You should not keep all your funds in one currency: part should be invested in dollars, part in euros. If a person is inclined to experiment, you can add pounds or francs to the portfolio. But if the approach is more conservative, then the optimal solution would be a 50/50 split between the dollar and the euro," emphasize KYT Group.