January 7, 2025 | Ukraine’s Currency Market: Dollar Hits New High, Euro Rises
As of Monday morning, January 7, 2025, the average dollar-to-Ukrainian Hryvnia exchange rate held steady at 42.70 UAH, while the Euro climbed by 25 kopecks to reach 44.50 UAH. Meanwhile, currency exchange offices bought dollars at 42.20 UAH and Euros at 43.80 UAH.
On the interbank market, the dollar consolidated around 42.23-42.26 UAH with no changes from the previous trading day’s close.
National Bank of Ukraine (NBU) Ushers in New Dollar Milestone
The National Bank of Ukraine (NBU) announced an increased official exchange rate for the US Dollar against the Hryvnia. The new rate of 42.1959 UAH broke the previous historical high of 42.0889 UAH set on January 6, 2024.
The official Euro rate was also adjusted upwards, standing at 43.9091 UAH.
NBU Explains Dollar Appreciation
In a statement, the NBU attributed the December 2024 dollar climb to a surge in demand for foreign currency due to increased public spending and year-end business operations. In response, the NBU has enhanced its foreign currency sales to 5.3 billion USD, the highest volume in its history, to uphold stability in the market.
