The National Bank of Ukraine has changed the official exchange rate of the hryvnia against U.S. dollar by 25%, to UAH/USD 36.5686, effective 9 a.m. 21 July 2022. This is reported by the NBU press service on July 21.
The regulator explained that this step will improve competitiveness of Ukrainian producers, converge exchange rate conditions for different groups of businesses and households and support the resilience of the economy during the war.
At the same time, the official UAH/USD exchange rate remains fixed.
"Under conditions of great uncertainty caused by the war, the fixed UAH/USD exchange rate is the main anchor for stabilizing expectations and the key tool for attaining the NBU’s priority goals. These goals are maintaining price and financial stability, which are a prerequisite for economic recovery", - the NBU states.
Let us recall that fixing the hryvnia exchange rate at UAH/USD 29.25 at the onset of the war helped ensure stable functioning of the financial system. The National Bank states that the fixed exchange rate mechanism is the stabilizer of the economy under current conditions.
As previously reported, on April 9, the National Bank "froze" the dollar rate until the victorious end of the war with russia.