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National Bank sets new historic low for hryvnia exchange rate

by Kateryna Hodunova July 13, 2024 12:07 AM 1 min read

The building of the National Bank of Ukraine (NBU) on April 10, 2022. (Natalia Synenko/ Getty Images)

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The official dollar exchange rate exceeded Hr 41 for the first time in history, amounting to Hr 41.04 per dollar, according to the National Bank's data on the hryvnia exchange rate set for July 15.

The hryvnia exchange rate on the interbank foreign exchange market surpassed Hr 41 per dollar on the morning of July 12.

On October 3, 2023, the exchange rate changed for the first time since July 21, 2022. For more than 14 months, the official exchange rate had remained at Hr 36.57 per dollar.

According to Forbes Ukraine's calculations, the dollar's official exchange rate has already risen by 8% in 2024.

The Cabinet of Ministers has included an average annual exchange rate of Hr 40.7 per dollar in the 2024 state budget.

The Ukrainian government expects the average annual hryvnia against the dollar exchange rate to be Hr 45 in 2025, Hr 46.5 in 2026, and Hr 46.4 in 2027, according to the budget declaration for 2025-2027.

Author: Kateryna Hodunova

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