Ukraine‘s Currency Market Sees Dollar, Euro Surge on January 6; NBD/Ups Official Rates
Kicking off the new year, Ukraine’s currency market witnessed a significant uptick in both USD and EUR rates. As of January 6 morning, the average selling price of the dollar climbed by 20 kopecks, settling at 42.70 UAH, while the euro appreciated by 55 kopecks, reaching 44.25 UAH.
Exchange offices are acquiring dollars at an average of 42.20 UAH and euros at 43.55 UAH, reflecting a bullish trend in the market.
The interbank market opened at 42.15-42.18 UAH/USD, registering a 4-kopeck increase from the previous day’s close.
National Bank of Ukraine (NBU) Boosts Official Rates
The NBU has upped the ante, bolstering the official exchange rates for both USD and EUR. The new rates, effective January 6, 2025, are 42.0889 UAH/USD (+0.0504 UAH) and 43.3347 UAH/EUR (-0.0406 UAH), marking the first historical peak for the USD this year. Previously, the USD reached a high of 42.039 UAH on December 31, 2024.
Market Insights: Lower Volatility, High Sales
Despite a drastic drop in currency demand at the onset of 2025, the NBU’s sales on the interbank foreign exchange market decreased to 744.10 million USD between December 30, 2024, and January 3, 2025, a 2.2x decrease from the record-high volume transacted in the preceding week. Nonetheless, the NBU stepped up its intervention rates, driving the official USD rate to its current level.
Stay tuned for more updates on the evolving currency landscape in Ukraine.
