The National Bank of Ukraine has reported a new historical low for the hryvnia against the US dollar, setting the official exchange rate at 43.9776 hryvnias per dollar as of March 12. This figure represents an increase of 11 kopecks from the previous official rate.
According to Bloomberg, trading on the Ukrainian interbank currency market on March 11 concluded with the dollar valued at 44.15 hryvnias, with peak quotations exceeding 44.2 hryvnias. This marks a significant shift in the currency’s value.
The hryvnia’s decline began on October 3, 2023, when the official exchange rate was adjusted for the first time since July 21, 2022. For more than 14 months, the official rate had remained stable at 36.57 hryvnias per dollar, reflecting a period of relative currency stability prior to this recent depreciation.
The Ukrainian hryvnia has reached a new low against the US dollar, with the official exchange rate set at 43.9776 hryvnias. This marks a significant shift after a prolonged period of stability.