Currency in Ukraine continues to rise in price: official exchange rate as of October 20
20 October 09:19
After the weekend, the foreign exchange market continued to show fluctuations. The National Bank of Ukraine has updated the official exchange rate and recorded a rise in the dollar, with the hryvnia weakening after a slight decline at the end of last week. This is evidenced by updated data on the regulator’s website, "Komersant Ukrainian" reports
As of Monday, October 20, the National Bank set the official exchange rate at 41.73 hryvnia to the dollar. The official rate on Friday was 41.63 hryvnia to one dollar. On the cash market, the dollar rose by 10 kopecks to 41.95 hryvnia.
On Monday, the official hryvnia to euro exchange rate was 48.76. On Friday, October 17, the official hryvnia to euro exchange rate was 48.52.
The cash market also reacted to the changes: the average selling rate for a dollar in banks rose to 41.95 UAH.
What’s happening on the FX market
After a brief pause, the hryvnia came under pressure again. Experts call the situation a “currency swing,” as the exchange rate has been fluctuating within 10-15 kopecks for several days.
Such changes are related to investor sentiment, foreign exchange earnings, and expectations of new tranches of international aid.
Why it matters
The appreciation of the official dollar affects
- the cost of imported goods and fuel
- payments on foreign currency loans
- price stability in the domestic market.
