The regulator carried out a one-time correction of the official exchange rate and fixed it at the level of 36.5686 hryvnia per US dollar.
On July 21, the National Bank of Ukraine adjusted the official hryvnia exchange rate against the US dollar by 25% to 36.5686 hryvnia per dollar. This was reported by the press service of the regulator.
It was noted that such a step would increase the competitiveness of Ukrainian producers, bring closer the exchange rates for different business groups and the population, as well as maintain economic stability in a war.
At the same time, the NBU will continue to adjust the official exchange rate of the hryvnia against the dollar.
“Fixing the exchange rate of the hryvnia at the level of 29.25 hryvnia to one US dollar at the beginning of the war helped ensure the stable operation of the financial system. The mechanism of fixing the exchange rate is a stabilizer of the economy in the current conditions. The war has been going on for almost five months, during which there have been significant changes in our and the world economy. Under such conditions, the official exchange rate of the hryvnia at the level of February 24 no longer corresponds to reality,” explained the regulator.
It will be remembered that on July 13, for the first time since 2002, the US dollar became more expensive than the euro.
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Source: korrespondent
I am Dylan Hudson, a dedicated and experienced journalist in the news industry. I have been working for Buna Times, as an author since 2018. My expertise lies in covering sports sections of the website and providing readers with reliable information on current sporting events.