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
| 2014 | 2015 | 2016 | 2017 | 2018 | |
|---|---|---|---|---|---|
| Exchange Rate (vs USD) | 15.82 | 24.03 | 27.10 | 28.16 | 27.71 |
Ukraine Exchange Rate Chart
Source: Thomson Reuters.
Ukraine Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 19.00 | 0.0 % | Jul 27 |
| Exchange Rate | 23.70 | 0.30 % | Jan 01 |
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Economic News
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Ukraine: IMF deals draws near amid rising risks of recession
April 3, 2020
After months of foot-dragging, on 30–31 March the government successfully fast-tracked both the banking law and the land reform through Parliament.
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Ukraine: Hryvnia plummets amid global emerging market sell-off
April 3, 2020
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.
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Industrial production fell 1.5% over the same month last year in February, after a 5.1% drop in January and marking the fifth consecutive month of contraction in industrial sector output.
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GDP growth fell to 1.5% year-on-year (yoy) in the fourth quarter of last year (Q3: +4.1% yoy), marking the weakest expansion since Q1 2016, according to a preliminary estimate by Ukraine’s Statistical Institute.
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Ukraine: NBU axes key policy rate to near six-year low in March
March 12, 2020
At its 10 March, the National Bank of Ukraine (NBU) decided to cut the key policy rate to 10.00% from 11.00%, marking the sixth consecutive cut.
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