The dollar and euro are rapidly rising in price: the NBU set record values on February 17
17 February 07:43
The National Bank of Ukraine has once again raised the official exchange rate for the dollar and euro. As of Tuesday, February 17, the American and European currencies continue to strengthen, indicating continued pressure on the hryvnia. The updated data was published on the regulator’s official website, according to "Komersant Ukrainian".
Official dollar exchange rate as of February 17: hryvnia continues to weaken
The National Bank of Ukraine continues to gradually raise the exchange rate of the US currency.
The official dollar exchange rate for February 17 is 43.17 UAH/USD.
The previous rate was 43.10 UAH/USD.
Thus, the hryvnia lost another 7 kopecks against the dollar in just one day.
The cash market also saw an increase. The average selling rate of the dollar rose by about 15 kopecks and is now around 43.00 UAH per dollar, depending on the bank and exchange office.
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The euro is also rising: over 51 hryvnia per currency
The European currency is also showing an upward trend.
The official euro exchange rate on February 17 is 51.16 UAH/euro.
The previous rate was 51.12 UAH/euro.
The strengthening of the euro is taking place against the backdrop of global currency fluctuations, as well as internal economic factors that affect the hryvnia exchange rate.
Why are the dollar and euro exchange rates rising?
Experts identify several main reasons for the weakening of the hryvnia and the growth of foreign currencies:
- increased demand for currency among businesses and the population;
- imports of energy and goods;
- inflationary pressure in the economy;
- geopolitical risks and military factors;
- seasonal fluctuations in the currency market.
The exchange rate is also influenced by market participants’ expectations regarding the future economic situation.
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