If your money is in Euros, how do you know when it will go down and when your money is in UAH, same question. Sure, it is possible, but also a possible loss.
The dollar and the Euro are doing very well right now against the troubled grievna. Like I've mentioned several times - a dollar was worth 4-5 grievna last year when I was in Kiev and its worth 8 (actually more like 8.25 - 8.35 grievna now).
Interest rates quoted for Ukrainian banks are also considerably higher. I know they were well over ten percent.
The problem is that any bank - including (maybe ESPECIALLY) a Ukrainian bank can fail in these economic times. Ukraines exports are way down and its debt is way up. Anything can happen.
And there are likely to be wide swings in the value of the dollar, euro and grievna with the next few months.
If you want to take risks on big returns - go to Vegas.
Juengasa: You don’t “win” money when trading currency. If and I stress, if, you gain in capital position it will be as a result of “earning” your money. There is about a million issues you can run into and in the simplest form one is possibly not being able to transfer your money back out of the country and that is given the bank survives at all.
i don't think you can just simply transfer money to or from a ukrainian bank like that. and personally i wouldn't trust them! especially in this economic climate. if you want to trade in money like that, get a proper traders account and do it that way /pete