Hryvnia official rate strengthens to NBU’s ‘fundamental level’

16:55, 10 March 2015
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The National Bank of Ukraine on Tuesday continued to strengthen the hryvnia official exchange rate, bringing the value of Ukraine’s currency to UAH 21.7357 to the dollar – within the "fundamental level" range of UAH 20-22 set by the NBU, according to the Web site of the central bank.


After the NBU introduced a number of restrictions on the foreign exchange market for importers and the increase of the discount rate to 30% per annum, the hryvnia strengthened by UAH 8.27, less than two weeks after it hit a historic low rate of UAH 30.0102 on Thursday, February 26.

According to the National Bank of Ukraine, the weighted average exchange rate of the hryvnia as of 1400 was UAH 21.7402 to the dollar, with 72 deals concluded by this time worth a total of $18 million.

According to dealers, hryvnia quotations against the dollar on the interbank currency market on Tuesday rose to UAH 21.50/21.80 to the dollar.

As UNIAN reported earlier, NBU Governor Valeria Gontareva said that the fundamental level of the hryvnia exchange rate under the program with the International Monetary Fund was a rate of UAH 20-22 to the dollar, and the imposed restrictions of the NBU would allow to soon stabilizing the hryvnia exchange rate at a level close to these fundamental values.

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