Dollar rises, euro falls: exchange rates as of November 5
5 November 04:00
For the second day in a row, the National Bank of Ukraine has raised the official dollar exchange rate. The US currency has risen again, this time by three kopecks. This is evidenced by updated data on the regulator’s website, "Komersant Ukrainian" reports
Official exchange rate
According to the NBU’s updated data, the official dollar exchange rate is set at 42.07 hryvnia as of November 5 .
For comparison, a day earlier, on November 4, the dollar was worth 42.04 hryvnia.
The cash market saw an even more significant increase: the dollar rose by 10 kopecks to 42.15 hryvnia.
As for the euro, the situation is the opposite: the exchange rate has fallen. On Wednesday, it will be 48.33 hryvnia, while on Tuesday it will be 48.42 hryvnia per euro.
What determines the hryvnia exchange rate?
The National Bank emphasizes that the hryvnia exchange rate fluctuations are directly related to global trends in the currency markets.
Earlier, First Deputy Governor of the NBU Sergiy Nikolaychuk explained that when the US dollar strengthens or weakens against other currencies, the Ukrainian hryvnia reacts in a similar way.
“When the dollar weakens against the euro, the euro strengthens, and this encourages exporters to sell currency, while reducing demand from importers. In such a situation, the US dollar weakens against the hryvnia, which to some extent levels the hryvnia exchange rate against the euro,” Nikolaychuk explained.
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