The hryvnia continues to lose ground. On Tuesday, 22 April, the average selling rate for a dollar in exchange offices rose to UAH 41.55, up 5 kopecks from the previous day. The euro rose sharply – by 55 kopecks at once – to UAH 47.95, hitting a new all-time high.
On the cash market, the dollar is being bought at an average of UAH 41.00, and the euro at UAH 47.00.
On the interbank market, the dollar fell slightly to between 41.39 and 41.42 UAH/USD.
The National Bank lowered the official dollar exchange rate to UAH 41.3785, while the euro rose by 74 kopecks to a record 47.7653.
What’s going on?
The main reasons for the hryvnia’s weakening are high demand for the currency at the end of the month, delays in the new IMF tranche, and importers’ growing expectations of devaluation.
In addition, the hryvnia is under pressure from the volatility of the global currency market, in particular the weaker dollar, which is pushing the euro upwards.
