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 23, 2020
At its 23 July monetary policy meeting, the National Bank of Ukraine (NBU) decided to hold the key policy rate at 6.00%, against market expectations of a 25-basis point cut.
July 13, 2020
Consumer prices rose 0.20% in June over the previous month, coming in below May's 0.30% rise.
June 26, 2020
Industrial production fell 12.2% over the same month last year in May, after a 16.2% drop in April, which had marked the worst result since May 2015.
June 19, 2020
The economy swung to contraction in the first quarter, with GDP decreasing 1.3% year-on-year (Q4 2019: +1.5% year-on-year).
June 11, 2020
At its 11 June monetary policy meeting, the National Bank of Ukraine (NBU) decided to slash the key policy rate to 6.00% from 8.00%, marking the ninth consecutive cut.