Switch to the euro to take 5-10 years

Yesterday, media reported that Ukraine is switching from the dollar to the euro. 

Bogdan Kytsak, a member of the Verkhovna Rada committee on economic development, decided to explain what this means for Ukraine and its residents.

He stated that the process of transitioning from the dollar to the euro in Ukraine will take between five and 10 years. This step will be driven by several key factors, including an increase in the volume of transactions in the hryvnia-euro currency pair, growth in exports and imports, as well as remittances from Ukrainians abroad.

Experts are confident that these changes will facilitate Ukraine's further integration into the European economy and strengthen the euro's position as the main currency for settlements in the country.