National Bank Raises Official Euro Exchange Rate to Record High

The National Bank of Ukraine has updated the official euro exchange rate for April 22, setting it at 47.77 UAH, which is 74 kopecks higher than the previous rate and is the highest in the country’s history. This information was reported by the National Bank itself.

This is reported by AgroReview

According to the NBU, the previous record exchange rate was recorded on April 15 and was 47.03 UAH. The increase in the euro exchange rate is attributed to several factors, including the rapid decline of the dollar against leading global currencies and the specifics of the National Bank’s calculations considering the BFIX currency fixings, which are widely used in the financial sector for assessing investment portfolios and currency operations.

Fastest Exchange Rate Growth in the Last 15 Years

According to analysts, from April 14 to April 20, the euro demonstrated the fastest growth in more than 15 years, rising to a level of 1.1413 against the dollar. This increase was caused by the trade war initiated by U.S. President Donald Trump, which has called into question the stability of the dollar as the world’s reserve currency.

Bloomberg analysts have suggested that the euro may strengthen even further in the coming months. They predict that the euro-to-dollar exchange rate could soon reach the level of 1.2.

“The euro is becoming the main beneficiary of the dollar’s weakening. As investors reassess the role of the American currency in the global financial system after President Donald Trump destabilized the markets by imposing tariffs and escalating the trade war with China.”

As of 16:07 Kyiv time, the euro was trading against the dollar at a level of 1.15 on investing.com, which is 1.24% higher than the previous session’s figures.