The Ukrainian hryvnia fell against the US dollar and euro as the National Bank of Ukraine set lower official exchange rates for Tuesday, November 3.
The central bank set the official dollar exchange rate at 45.53 hryvnias per dollar, marking an 18 kopeck decline for the Ukrainian currency compared to its previous level. Against the euro, the hryvnia lost 37 kopecks, with the official rate established at 51.05 hryvnias per euro, according to data published on the regulator's official website.
On the Ukrainian interbank foreign exchange market, trading quotes at 4:00 p.m. stood at 45.56 to 45.59 hryvnias per dollar. The European single currency was quoted between 51.09 and 51.10 hryvnias per euro during the same afternoon trading session. The interbank market is the wholesale network where licensed financial institutions trade currencies before retail rates are determined.
Commercial bank exchange rates
Across commercial bank branches on November 2, the average cash rate to buy dollars dropped by 2 kopecks to 46.02 hryvnias per dollar, while customers could sell US currency at an average of 45.28 hryvnias. The average rate for the euro rose by 1 kopeck to 51.40 hryvnias, with banks purchasing euros from the public at 50.54 hryvnias.
At PrivatBank, the largest commercial lender in Ukraine, the cost to purchase US dollars increased by 9 kopecks to 45.99 hryvnias per dollar, while the bank bought dollars at 45.29 hryvnias. The lender also raised its euro rate by 40 kopecks to 51.60 hryvnias per euro, offering to buy the European currency from clients at 50.60 hryvnias.
Central bank role and currency mechanics
The National Bank of Ukraine operates as the country's central monetary authority, managing foreign exchange reserves and determining benchmark values for the national currency, which is divided into 100 kopecks. The regulator calculates its daily official rates based on transactions concluded across the domestic interbank market, providing a reference point that commercial lenders and currency booths use to set retail prices.
