In Ukraine, as of Tuesday, October 3, the official Hryvnia exchange rate will be “flexibly managed” and not fixed from February 24, 2022. The press service of the National Bank of Ukraine (NBU) reported this in Telegram.
The press service noted that “the managed exchange rate flexibility differs from the floating exchange rate regime in force in the country before this date.”
As the NBU noted, the Central Bank “will continue to carefully monitor the situation in the foreign exchange market and be a key player in this market.”
They announced that the NBU will actively participate in trading in the interbank foreign exchange market, compensating the “structural foreign exchange deficit” and preventing significant fluctuations in the hryvnia exchange rate. At the same time, the “rate in market segments”, where citizens have the opportunity to buy and sell foreign currency, “will be determined according to the same rules as in the last year and a half”, that is, it will be both unfixed and unfixed. in the cash market and in the exchange rates of banks during conversion. However, the Central Bank assured that the NBU “will continue to strive to minimize the difference between cash and official interest rates.”
Before that, Ukrainian Minister of Finance Sergei Marchenko statedThe Ministry of Finance expects the hryvnia to weaken to an average annual rate of UAH 41.4/$1 in 2024.
According to him, such a forecast was made by the Ministry of Economy of Ukraine and other authorized structures guided by the Ministry of Finance.
Formerly a member of the State Duma guess Liquidation of the hryvnia in 2024.
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.