Ukraine's hryvnia slumps to UAH 25.31 to U.S. dollar on March 11

The National Bank of Ukraine (NBU) on March 10 set the official forex rate for March 11 at UAH 25.31 to the U.S. dollar, which let the country's national currency slump by 39 kopiykas.

The Central Bank fixed the following official forex rates of the hryvnia against key foreign currencies for March 11:

US$100 will be traded for UAH 2,531.35 (UAH 2,492.15 as of March 10);

EUR 100 will be traded for UAH 2,879.16 (UAH 2,823.36 as of March 10).

The NBU links the current forex market turmoil in Ukraine with the effect of short-term psychological factors and declares its readiness to maintain the hryvnia stability using international reserves. Last week, the regulator sold US$307 million, as well as US$250 million on March 10.

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As UNIAN reported earlier, the Ukrainian hryvnia in January-February 2020 weakened by 3.7% against the U.S. dollar, to UAH 24.56 per U.S. dollar and by 1.9% against the euro, to UAH 26.93 per euro.

In 2019, Ukraine's national currency strengthened by 14.5% against the U.S. dollar, to UAH 23.69 and by 16.7% against the euro, to UAH 26.42.

The hryvnia's historical low against the U.S. dollar was registered at UAH 30.01 in February 2015.