The National Bank of Ukraine set the official exchange rate for the euro at a record high of 52.13 hryvnias for Friday, August 21.
According to data published on the regulator website, the Ukrainian currency lost 26 kopecks against the euro compared to the previous benchmark. The figure marks a new historical high for the euro exchange rate in Ukraine, surpassing the previous record of 52.04 hryvnias set on June 16.
While weakening against the euro, the hryvnia strengthened against the US dollar. The central bank set Friday official dollar exchange rate at 44.61 hryvnias, representing a gain of 9 kopecks for the national currency.
On the Ukrainian interbank foreign exchange market, trading established hryvnia quotations by 4:00 p.m. at 44.60 to 44.63 hryvnias per dollar. Interbank quotations for the euro stood at 52.12 to 52.14 hryvnias per euro.
Commercial bank exchange rates in Ukraine
Commercial bank rates across Ukraine also shifted on August 20. The average retail rate for the euro rose by 25 kopecks to 52.40 hryvnias per euro, while customers could sell European currency at an average rate of 51.69 hryvnias.
The bank exchange rate for the US dollar dropped by 4 kopecks on August 20 to 44.99 hryvnias per dollar. Ukrainian financial institutions bought American currency from the public at an average rate of 44.52 hryvnias.
At PrivatBank, the dollar exchange rate fell by 5 kopecks to 44.85 hryvnias per dollar, with the bank purchasing dollars from customers at 44.25 hryvnias. The bank increased its euro exchange rate by 45 kopecks to 52.55 hryvnias per euro, while offering a buying rate of 51.55 hryvnias per euro.
Role of the central bank and currency
The National Bank of Ukraine is the central bank of Ukraine, responsible for establishing official exchange rates and formulating monetary policy. The hryvnia has served as the official national currency of Ukraine since 1996, subdivided into 100 kopecks. PrivatBank is the largest commercial bank in Ukraine, operating an extensive branch network across the country.
