REUTERS
The National Bank of Ukraine on Thursday dropped the hryvnia’s value by 10 kopiykas, setting the Ukrainian currency’s official exchange rate at UAH 23.39 to the dollar, while on Wednesday the Ukrainian currency’s official exchange rate was at UAH 23.29 to the dollar.
As of 1400 the central bank set the following official exchange rates of the hryvnia against leading foreign currencies:
$100 – UAH 2,339.4039 (as of 1400 on March 18 it was UAH 2,329.6787);
EUR 100 – UAH 2,477.8966 (as of 1400 on March 18 it was UAH 2,477.6133);
10 Russian rubles – UAH 3.8133 (as of 1400 on March 18 it was UAH 3.7727).
As UNIAN reported earlier, 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 to UAH 21.70, which corresponds to the fundamental level of the hryvnia exchange rate under the program with the International Monetary Fund and the state budget for 2015.
The National Bank and the Ukrainian government predicted a stabilization of the situation in the foreign exchange market after the receiving of the first tranche from the IMF. However, after the announcement of the agreement reached with the Fund on a new program, and after the receiving of the first tranche under this program, the Ukrainian market reacted by the increased demand for currency.