The National Bank of Ukraine has recorded a new historical minimum for the national currency: for the first time, the official exchange rate of the US dollar has surpassed the threshold of 44 hryvnias. This value was established on March 13, when the regulator set the rate at 44 hryvnias and 16.36 kopecks per dollar, which is 19 kopecks higher than the previous figure.
This is reported by Finway
Exchange Rate Dynamics on the Interbank Market
According to Bloomberg, trading on the interbank foreign exchange market on March 12 ended at 44 hryvnias and 27 kopecks per US dollar. Thus, both the official and interbank markets are witnessing a further depreciation of the hryvnia against the American currency.
Preconditions and History of Fluctuations
Until October 2023, the official exchange rate had remained stable for a long time. From July 21, 2022, it held steady at 36 hryvnias and 57 kopecks per dollar for over 14 months. However, on October 3, 2023, the first shift occurred, after which the hryvnia began to gradually depreciate against the dollar.
“The National Bank of Ukraine has updated the historical minimum of the hryvnia against the US dollar, recording a level above 44 hryvnias per unit of American currency for the first time.”
The current situation indicates a new phase in the dynamics of Ukraine’s foreign exchange market, attracting increased attention from businesses and the public.