The exchange rate for the US dollar in Ukrainian banks remained unchanged at 45.11 hryvnias per dollar on Wednesday, August 12. Members of the public looking to sell US currency to commercial banks received an average rate of 44.58 hryvnias per dollar.
The average euro exchange rate in commercial banks fell by two kopecks to 52.10 hryvnias per euro. Customers selling European currency at commercial bank branches were offered an average rate of 51.45 hryvnias per euro.
At street currency exchange kiosks across Ukraine, the average cost of buying a US dollar stood at 44.90 hryvnias on Wednesday morning, while customers could sell dollars at 44.80 hryvnias. The cash euro rate at exchange kiosks was 51.90 hryvnias per euro, with a selling rate of 51.72 hryvnias per euro.
Official central bank exchange rates
The National Bank of Ukraine set the official exchange rate for August 12 at 44.87 hryvnias per dollar. This official benchmark represents a weakening of the domestic currency by four kopecks compared to the previous setting.
Against the euro, the Ukrainian currency posted modest gains. The National Bank of Ukraine set Wednesday's official euro rate at 51.76 hryvnias per euro, reflecting a strengthening of two kopecks for the hryvnia.
The National Bank of Ukraine serves as the country's central monetary authority, managing foreign exchange reserves and establishing official daily reference rates for the national currency, which is divided into 100 kopecks. Commercial banks and exchange kiosks operate alongside the central bank, offering retail transaction rates to businesses and the public.
Financial market outlook for August
Taras Lesovyi, director of the financial markets and investment activity department at Globus Bank, said that despite traditional August speculation about a potential hryvnia collapse, there are currently no prerequisites for sharp exchange rate movements.
Lesovyi added that over the course of this week, the official dollar rate will most likely remain within a range of 44.5 to 45 hryvnias. He stated that the official euro rate is expected to stay between 51 and 51.7 hryvnias. Globus Bank is a commercial financial institution operating in Ukraine.
