The hryvnia reached a new historic low on Tuesday / Photo by UNIAN
The National Bank of Ukraine at 1400 on Tuesday set the hryvnia exchange rate at UAH 15.8996 to the dollar, or two kopiykas lower than the last historic low rate set by the NBU on January 19, according to the official Web site of the National Bank of Ukraine.
According to the site, quotes for the hryvnia against the dollar on the interbank market as of 1300 on Tuesday reached UAH 15.9005 to the dollar.
As a result of today’s indicative auction held by the NBU, the hryvnia equilibrium exchange rate was set at UAH 15.8312 to the dollar.
As UNIAN reported earlier, in 2014, the National Bank of Ukraine moved to flexible exchange rate formation on the foreign exchange market, which resulted in the hryvnia practically halving in value against the dollar.
Since the introduction of the hryvnia in 1996, it has twice suffered swift drops in its value: In 1998, its value fell by almost three times, from UAH 1.80 to UAH 5 to the dollar, while at the end of 2008 it sagged to UAH 8 to the dollar. It then dropped again at the end of last year, from UAH 8 to UAH 13 to the dollar, and has been losing value in fits and starts since then.