Exchange Rate in Ukraine
Ukraine - Exchange Rate
Hryvnia plummets amid global emerging market sell-off
The Ukrainian hryvnia (UAH) plummeted against the U.S. dollar over the past few weeks, amid fears over the escalation of the Covid-19 health crisis and its impact on activity. The currency ended 3 April at UAH 27.57 per USD, marking a 9.7% depreciation over the same day in March. Furthermore, the currency was down 1.3% year-on-year and 14.0% year-to-date.
The robust gains made by the hryvnia last year were swept away in March as foreign investors ditched Ukrainian bonds amid the global capital flight triggered by the Covid-19 pandemic. In an attempt to stem the fall of the currency, the Central Bank intervened in currency markets in March, selling USD 2.2 billion.
Going forward, the hryvnia is expected to regain ground as the health crisis subsides. A new three-year deal with the IMF expected to be ratified later in April should boost confidence among investors looking to benefit from a high interest rate differential; however, it will take time for capital inflows to return to pre-pandemic levels as global uncertainties linger.
Our panel sees the UAH ending 2020 at 28.23 per USD and 2021 at 27.55 per USD.
Ukraine - Exchange Rate Data
|Exchange Rate (vs USD)||24.03||27.10||28.16||27.71||23.70|
5 years of economic forecasts for more than 30 economic indicators.
Ukraine Exchange Rate Chart
Source: Thomson Reuters.
|Bond Yield||19.00||0.0 %||Jul 27|
|Exchange Rate||23.70||0.30 %||Jan 01|
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July 21, 2022
At its meeting on 21 July, the National Bank of Ukraine (NBU) decided to maintain its policy rate at 25.00%—the highest since March 2016—after the largest rate hike in 24 years at its June meeting. The decision not to hike further was mainly driven by the Bank’s assessment that the 1,500 basis-point hike taken at its previous meeting was enough to improve the attractiveness of the hryvnia, guarantee healthy levels of international reserves and macroeconomic stability.
July 11, 2022
Consumer prices rose 3.11% in June over the previous month, accelerating from May's 2.68% rise.
June 10, 2022
Consumer prices increased 2.68% in May over the previous month, below the 3.12% rise seen in April.
June 9, 2022
A preliminary release revealed that GDP tumbled 15.1% year on year in the first quarter of 2022, sharply contrasting the previous quarter’s 6.1% rise.
June 2, 2022
At a surprise meeting on 2 June, the National Bank of Ukraine (NBU) raised its key policy rate by 1,500 basis points to 25.00% from 10.00%.