“The regulator has changed the list of currencies to which the hryvnia exchange rate is set daily, and also canceled the list for monthly setting”, – WRITE: www.radiosvoboda.org
In particular, the regulator changed the list of currencies to which the official hryvnia is set daily, and canceled the list of currencies for the monthly setting of the official exchange rate. Changes will take effect from March 31.
The solution was explained by the increase in the level of calculation automation, which reduced operating restrictions and risks of daily calculation of the official exchange rate for a wide list of currencies.
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“In view of this use of two lists of currencies (daily and monthly), the hryvnia has lost its relevance to calculate the official exchange rate, and the NBU decided to move to one daily list of currencies that corresponds to international experience,” the statement reads.
The National Bank states that the list of currencies to which the official hryvnia will be set will be adjusted once every three years on the basis of current statistics on turnover with issuing countries. If necessary, this may happen more often.
Subject to changes, from March 31:
- The frequency of setting the official hryvnia to 11 currencies will be changed from monthly to daily. Among them: Algerian Dinar, Bat, Dirham UAE, Dong, Larry, Lebanon’s Pound, Malaysian Ringgit, Saudi Riyal, Serbian Dinar, and Tunisian Dinar
- The official hryvnia exchange rate will not be calculated to a number of currencies: Russian ruble, Belarusian ruble, Brazilian real, Armenian drama, Dominican Peso, Iraqi Dinar, Iranian Rial, Libyan Dinar, Moroccan Dirham, Novya Tutor, Pakistan, Pakistani, Pakistan.
“Thus, the list of foreign currencies for the daily setting of the official hryvnia exchange rate will include 41 currency and SDR (special borrowing rights),” the National Bank adds.
The changes are envisaged by the NBU Board Resolution of March 24 on the changes in the “Regulation on setting the official hryvnia exchange rate to foreign currencies and the calculation of the reference value of the hryvnia exchange rate to the US dollar and the accounting price of precious metals” – the document comes into force at the end of March.
