The official hryvnia exchange rate accelerated its growth

The National Bank reduced the dollar-hryvnia exchange rate again after switching to flexibility mode. This time the rate decreased even more – by almost 7 kopecks, as reported on the regulator’s website on Wednesday, October 11.

So, the official hryvnia to dollar exchange rate for tomorrow is set at: 36.4385 UAH/1 dollar (-0.0673 UAH). The euro exchange rate increased slightly and will reach 38.6394 UAH per 1 euro (+0.0345 UAH).

In the interbank market today, the dollar exchange rate fell by 4 kopecks – to 36.43-36.45 UAH/dollar (buying and selling).

And in the cash market, the exchange rate of the American currency increased by 5 kopecks – up to 38.20 UAH per dollar and is approximately at the same level as before the decision of the NBU.

As you know, on October 3, the National Bank introduced a regime of managed exchange rate flexibility. Before this, since the beginning of the war, the regulator maintained a fixed exchange rate of the hryvnia to the dollar – first 29.25 UAH/dollar, and from July 21, 2022 – 36.57 UAH/dollar.

Now the banks will sell and buy money at a free rate without the limit of 1% of the official rate that has been in force since the beginning of the war. Taking into account the exchange rate in the interbank market, the NBU will set the official rate. However, the regulator promised to significantly limit changes in the exchange rate, preventing either a significant weakening of the hryvnia or its significant strengthening. On October 6, the gradual acceleration of the dollar’s decline began.