After raising the official hryvnia exchange rate by 1 kopeck on December 31, the National Bank of Ukraine (NBU) strengthened it by another 5 kopecks on January 1 to 41.9725 UAH/$1, according to the regulator’s website.
The NBU set the reference rate at 12:00 on Wednesday at 41.9787 UAH/$1 against 42.0247 UAH/$1 a day earlier.
On the cash market, the US dollar went up by 1 kopeck on the first day of the new year, to 42.40 UAH/$1, and remained at 42.50 UAH/$1 on sale.
The official hryvnia exchange rate against the US dollar weakened by 10.6%, or UAH 4.02, in 2024, and by 14.9%, or UAH 5.46, since the National Bank switched to a managed flexibility regime on October 3, 2023.
Last week, the NBU’s net sales of foreign currency on the interbank market rose to a record high since the beginning of Russia’s full-scale invasion of Ukraine – to $1 billion 625.9 million, and in December – to $5.28 billion, which was also a record high.
As reported, in 2023, the official hryvnia exchange rate devalued by 4.5% to 37.9824 UAH/$1, while the government had budgeted for an average annual rate of 42.2 UAH/$1 in 2023 and 45.8 UAH/$1 at the end of the year. In the state budget for 2024, the Cabinet of Ministers set an average annual rate of 40.7 UAH/$1, and at the end of the year – 42.1 UAH/$1, while the budget for the current year set an average annual rate of 45 UAH/$1.
