On May 27, the National Bank set the exchange rate of the hryvnia against the US dollar at UAH 40.12 per USD 1. The euro is now officially worth UAH 43.49. For the first time, the price of the dollar crossed the 40 mark. Since Friday, the currency has risen in price by almost 20 kopecks. However, a slight jump in the exchange rate was quite expected and the situation on the foreign exchange market is stable, so financiers do not advise running to money changers and creating artificial demand.
The official exchange rate actually reached above 40 hryvnias per dollar for the first time. However, in times of turbulence in the cash market, the American currency was several times more expensive, for example, in July 2022.
The main reason for the jump in the foreign exchange market is currency liberalization, which is gradually being implemented by the National Bank. Step by step, currency restrictions are removed and the exchange rate reacts with fluctuations, but this phenomenon is temporary.
“The situation on the foreign exchange market remains stable and controlled, which is supported by significant foreign exchange reserves at the level of 42.4 billion dollars and a consistent policy of abolishing currency restrictions. Since the beginning of the year, the hryvnia has devalued by 5.3%. I would like to remind you that the government used the forecast when calculating the draft budget devaluation by approximately 10% (42.1 hryvnias/dollar at the end of the year, 40.7 hryvnias/dollars – the average for the year). We are currently somewhere in the middle of this scenario. For almost 8 months since the beginning of the decoupling from the fixed exchange rate in October In 2023, the hryvnia depreciated by 8.8%,” comments the head of the Committee of the Verkhovna Rada of Ukraine on Finance, Tax and Customs Policy Danilo Getmancev.
