The National Bank of Ukraine (NBU) again raised the official exchange rate of the dollar based on the results of interbank trading. The dollar rose to a new historical high and exceeded 39 hryvnias.
This is stated on the website of the regulator.
The official exchange rate on March 20 is 39.1338 hryvnias per dollar, which is 16 kopecks more than the exchange rate on March 19, when the dollar cost 38.9744 hryvnias. The euro exchange rate on March 20 is 42.4641 hryvnias.
These interbank events take place after NBU reduced the discount rate by 0.5% from 15 to 14.5% per annum on March 15. The rate of 15% was effective from December 15, 2023. The National Bank notes that the situation on the foreign exchange market will remain under control, inflation will be moderate, and the yield on hryvnia instruments for savings will be attractive.
Inflation slowed faster than expected. In February, it decreased to 4.3% in annual terms. The situation on the foreign exchange market remained stable. In the future, inflation will be moderate, but in the second half of the year it will accelerate a little.
- From December 1, 2023, the National Bank removed all restrictions for banks and non-bank financial institutions on the sale of currency to the public in order to minimize the difference between cash and non-cash exchange rates. Prior to this, NBU introduced managed flexibility of the exchange rate, which compensates for the structural difference between the demand and supply of the currency.