The Ukrainian hryvnia continues to fall – the card exchange rate is already above 42 UAH/USD

The National Bank of Ukraine has decided not to roll back the dollar exchange rate below the new psychological level of 41 hryvnias, which it reached last week. Instead, the NBU is solidifying its official exchange rate, setting it today at 41.0107 UAH/USD.

This rate will be effective starting tomorrow, July 16.

On the interbank currency market, on the main Bloomberg platform, trading today began at 40.89 UAH/USD, but the rate quickly rose to 41.0 UAH/USD, at which most transactions were conducted. The day ended at 41.14 UAH/USD, marking a new high for non-cash transactions.

The maximum cash sale rate of the dollar in bank cash desks reached 41.45-41.50 UAH/USD, set by the state-owned Sens Bank and Kominbank. The average rate was 41.29 UAH/USD.

The card rate has already surpassed the 42 UAH/USD mark. For instance, Akkordbank set a sale rate of 42.05 UAH/USD, with an average sale price of 41.22 UAH/USD.

It is worth noting that late last week, the National Bank of Ukraine set the official dollar exchange rate above 41 hryvnias for the first time.

Treasurers explain this new rate hike as a result of the government’s need for budget funds. The higher the dollar exchange rate, the larger the amount in hryvnias obtained from converting incoming foreign aid.