The NBU has changed its approach to determining the list of currencies to which the official hryvnia exchange rate is set
The National Bank of Ukraine changed the approach to the formation of the list of currencies to which the official rate of the hryvnia is set daily, and canceled the list of currencies for monthly rate setting. About this informs NBU press office.
“The need to update approaches is due to a significant increase in the level of automation of calculations, which reduced the operational limitations and risks of daily calculation of the official exchange rate for a wide range of currencies. In view of this, the use of two currency lists (daily and monthly) to calculate the official hryvnia exchange rate lost its relevance, and the NBU decided to switch to one daily currency list, which is in line with international experience.”, says the message.
According to the new decision, the list of currencies for which the official hryvnia exchange rate will be calculated will include currencies of group 1 of the Classifier of Foreign Currencies and Bankable Metals, as well as currencies of countries that account for at least 95% of trade with Ukraine.
From March 31, 2025, the periodicity of setting the official exchange rate of the hryvnia to 11 currencies will change — instead of monthly, it will be daily. This will apply to Algerian dinar, baht, UAE dirham, dong, lari, Lebanese pound, Malaysian ringgit, Saudi riyal, Serbian dinar, taka and Tunisian dinar.
At the same time, the official exchange rate of the hryvnia will no longer be calculated for the following currencies: Russian and Belarusian ruble, Brazilian real, Armenian dram, Dominican peso, Iraqi dinar, Iranian rial, Libyan dinar, Moroccan dirham, New Taiwan dollar, Pakistani rupee, som, somoni, Turkmen new manat, and Uzbek sum.
Thus, the list of currencies for which the NBU will set the official exchange rate daily will consist of 41 currencies and special drawing rights (SDR).
Regarding the exchange rate of the US dollar, the adopted changes do not concern the mechanism of its establishment. As before, the official exchange rate of the hryvnia to the dollar will be calculated on the basis of transactions on the interbank foreign exchange market and will be published at 3:30 p.m. the next day. The official exchange rate of the hryvnia to other currencies will be determined based on the exchange rate of the dollar to these currencies on international markets.
