UkrCentral: Ukraine‘s Currency Reaches New Heights, Dollar Hits Fourth Consecutive Record High
The National Bank of Ukraine (NBU) has announced the official exchange rate for January 9, 2025, with the USD/UHR standing at 42.2361 UAH, marking an increase of 0.0064 UAH compared to the previous day. This figure represents the fourth historic peak in a row, surpassing the previous record of 42.2297 UAH on January 8, 2024. The ongoing uptrend raises eyebrows among analysts, who attribute it to various factors, including international economic conditions and domestic market dynamics.
The official exchange rate for the EUR/UHR on the same day is set at 43.4272 UAH, showing a decline of 0.4495 UAH from the previous day. While the euro has not reached record highs like the dollar, its performance is also closely monitored by experts.
On the interbank market, the USD/UHR rate climbed by 2 kopecks to a range of 42.32-42.35 UAH (buy-sell) compared to the preceding day’s close. This continued growth reflects the robust demand for dollars among Ukrainian financial institutions.
The presence of the greenback has also made its mark on the cash market, where the USD/UHR rate increased by 5 kopecks to 42.75 UAH. This development comes as no surprise given the strong correlation between interbank and cash market rates.
Looking back at last year, the NBU reports that the average selling rate for cash dollars in Ukraine rose by 0.9% in December 2024, reaching 42.07 UAH. Year-on-year, the dollar appreciated by 11.2%. Similarly, the official USD/UHR rate for the whole of 2024 increased by 10.7% to 42.03 UAH, with a monthly upsurge of 1.1% in December.
These trends mirror the Ukrainian inflation rate, which the NBU estimates to have grown by approximately 12% over 2024.
