PrivatBank lowered its cash exchange rate for the US dollar by 5 kopiykas to 45.20 hryvnias on Tuesday, October 6, as Ukraine's central bank set a new historical low for the national currency.
The commercial bank maintained its cash euro rate at 50.85 hryvnias per euro. Customers selling foreign currency to PrivatBank received 44.60 hryvnias per US dollar and 49.85 hryvnias per euro.
Card payment rates at PrivatBank remained stable throughout the day. The card exchange rate for the US dollar stood at 45.25 hryvnias, while the card rate for euro transactions remained at 51.02 hryvnias.
PrivatBank is the largest commercial bank in Ukraine. State-owned since its nationalisation in 2016, the Kyiv-headquartered financial institution serves tens of millions of retail banking customers and handles a major share of domestic card transactions and foreign currency exchanges across the country.
National Bank of Ukraine official rates
The National Bank of Ukraine set the official exchange rate for October 6 at 45.06 hryvnias per US dollar. That marked a weakening of 7 kopiykas for the Ukrainian currency from the previous day.
The figure represents a new historical high for the US dollar in Ukraine. The previous official record high had been set just one day earlier, on October 5, at 44.99 hryvnias per dollar.
In contrast, the hryvnia gained ground against the European single currency. The central bank set the official euro rate at 50.48 hryvnias for Tuesday, representing a 5-kopiyka strengthening for the hryvnia.
The National Bank of Ukraine operates as the nation's central bank and monetary authority from its headquarters in Kyiv. It regulates foreign exchange markets and publishes daily benchmark exchange rates for financial institutions operating across Ukraine. The national currency, the hryvnia, is subdivided into 100 kopiykas.
Average commercial bank exchange rates
Across the broader Ukrainian banking sector, the average dollar exchange rate rose by 11 kopiykas on Tuesday to 45.36 hryvnias per dollar. Banks bought US dollars from the public at an average rate of 44.74 hryvnias.
The average euro exchange rate across commercial banks fell by 6 kopiykas to 50.97 hryvnias per euro. The average rate for purchasing euro from customers stood at 50.17 hryvnias per euro.
Ukrainian commercial banks adjust their daily retail exchange rates based on central bank benchmark figures, customer demand for foreign currency, and available cash liquidity in bank branches.
