Official Dollar Exchange Rate in Ukraine Exceeds 43 Hryvnias for the First Time

The National Bank of Ukraine has set the official exchange rate at 43 hryvnias and 7.57 kopecks per US dollar as of January 12. This marks the fifth consecutive instance this week where the hryvnia has reached a new historical low against the American currency.

This is reported by AgroReview

Dynamics of the Hryvnia to Dollar Exchange Rate

Since the beginning of the year, the national currency continues to weaken. The first update of the historical minimum this year was recorded on January 5. As of January 6, the official exchange rate was 42 hryvnias and 42.08 kopecks per dollar. Since then, the hryvnia has lost more than 1.5% of its value in relation to the US dollar.

Interbank Market and Preliminary Indicators

According to Bloomberg, on January 9, trading on the interbank foreign exchange market closed at 43 hryvnias and 13.5 kopecks per dollar.

The stability of the official exchange rate lasted for over 14 months. From July 21, 2022, to October 3, 2023, it remained at 36 hryvnias and 57 kopecks per dollar. Only in October of last year did the first shift in this indicator occur.

“The official exchange rate has updated the hryvnia’s minimum against the dollar for the fifth consecutive time this week.”