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New Exchange Rates Introduced for the Hryvnia to Dollar and Euro as of October 10, 2023

The official exchange rate of the hryvnia to the dollar as of October 10, 2023 is set at the following level: 36.5527 hryvnia per 1 dollar (-0.0300 UAH). The euro exchange rate will be 38.4827 hryvnia per 1 euro (-0.1706 UAH).

bank.gov.ua

On the interbank market today, October 9, the rate fell by 4 kopecks to 36.53-36.55 UAH/dollar (purchase and sale).

udinform.com

On the cash market, the exchange rate stabilized at 38.25 hryvnia per dollar.

New NBU course

Let us recall that on October 3, the National Bank (NBU) introduced a regime of managed exchange rate flexibility. Prior to this, since the beginning of the war, the NBU had kept a fixed exchange rate of the hryvnia against the dollar, first 29.25 UAH/dollar, and from July 21, 2022 – 36.57 UAH/dollar.

As NBU head Andriy Pyshny said, the new policy does not mean that the hryvnia will constantly fall. “The term ‘managed exchange rate flexibility’ is not the same as ‘permanent devaluation,'” he said.

According to him, in order for the exchange rate to move in both directions, the NBU will cover the structural deficit of the currency in the market. “Any fluctuations in the exchange rate, either in the direction of weakening or strengthening of the hryvnia, will be significantly limited,” added the head of the NBU.

2023-10-09 12:35:32


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