The National Bank of Ukraine has set the official exchange rate at 43.71 hryvnias per US dollar as of March 5, marking a new low for the currency against the dollar for the second consecutive time this week.
This latest adjustment follows a significant drop on March 3, when the exchange rate fell to 43.45 hryvnias per dollar, establishing a historical low for the first time this week.
According to Bloomberg, trading on the Ukrainian interbank foreign exchange market on March 4 concluded at 43.90 hryvnias per dollar, further indicating the currency’s ongoing depreciation.
The decline in the hryvnia’s value began on October 3, 2023, after remaining stable at 36.57 hryvnias per dollar since July 21, 2022. This shift represents a notable change in the currency’s performance, reflecting broader economic challenges faced by Ukraine.
The Ukrainian hryvnia has reached new lows against the US dollar, with the official exchange rate set at 43.71 hryvnias per dollar. This decline marks a significant shift from a stable rate maintained for over a year, reflecting ongoing economic pressures.
Source: Національний банк України