The dollar is falling: exchange rates as of March 17
17 March 09:09
The National Bank of Ukraine continues to report a decline in the official dollar exchange rate. The U.S. currency has been falling in value for the second day in a row. This is evidenced by updated data on the regulator’s website, according to "Komersant Ukrainian"
What exchange rate did the NBU set?
According to the National Bank’s updated figures, the official dollar exchange rate for Tuesday, March 17, is 44.08 UAH per dollar, which is 5 kopecks lower than the previous banking day (44.13 UAH).
A slight decline—approximately 10 kopecks—was also recorded in the cash market. The average selling rate is about 43.30 UAH per dollar.
Euro exchange rate as of March 17
The European currency also showed a decline. The official euro exchange rate was set at 50.57 UAH, while the day before it stood at 50.66 UAH.
Why did the NBU conduct foreign exchange operations?
The National Bank also reported conducting special operations to provide banks with cash currency. This involves exchanging non-cash funds for cash to replenish bank vaults.
These measures were implemented on March 9 and 10 as a preventive step to avoid a cash currency shortage due to potential logistical risks.
Results of foreign exchange operations
March 9:
- Offered: $100 million and €80 million
- 5 banks participated
- Applications were submitted for $53.1 million and €42 million
- All bids were fully satisfied.
March 10:
- Offered: $100 million and €35 million
- 1 bank participated
- The application amounted to $20 million and €10 million
- Applications were fulfilled in full
The NBU noted that these figures indicate a sufficient level of cash currency in the banking system and moderate demand for such operations.
Will this affect Ukraine’s reserves
The regulator emphasized that such transactions do not affect Ukraine’s international foreign exchange reserves, as they merely involve a change in the form of currency—from non-cash to cash.
The National Bank also emphasized its readiness to continue supporting banks in providing foreign currency cash as needed.
