The national currency of Ukraine continues to set new anti-records against major world currencies. For the second consecutive week, the exchange rate of the hryvnia against the US dollar and the euro is demonstrating historical lows.
This is reported by Finway
Decline of the Hryvnia Against the Dollar and Euro
According to the results of trading on the interbank currency market, the National Bank of Ukraine set the official exchange rate of the hryvnia against the US dollar for Tuesday, January 13, at 43.2552 UAH per dollar. This is the lowest figure in the history of observations, with the previous minimum recorded on January 12 at 43.0757 UAH per dollar.
The exchange rate of the Ukrainian currency against the euro also worsened, dropping by 38 kopecks to reach 50.5264 UAH per euro. This is a new historical low, as the previous record was set on January 9 at 50.1762 UAH per euro.
New Currency Policy of the National Bank
On October 3, 2023, the National Bank of Ukraine transitioned to a managed flexibility exchange rate regime, abandoning the fixed rate that had been in place since the full-scale invasion by the Russian Federation on February 24, 2022. The official rate is now determined on the interbank market rather than being set directive by the regulator.
“Under this regime, the official rate is determined on the interbank market, rather than being set directive by the National Bank. At the same time, the NBU continues to monitor the situation and regularly compensates for the structural deficit of foreign currency in the interbank currency market.”
The National Bank continues to carry out interventions to stabilize the currency market and prevent sharp fluctuations in the exchange rate, supporting the market in case of a foreign currency deficit.