The National Bank of Ukraine (NBU) is introducing new rules for determining the official hryvnia exchange rate. In particular, the bank will update the list of currencies to which the official exchange rate will be set, and will also cancel the list of currencies for monthly settlement. The changes will come into effect on March 31, 2025.
As reported by IZ with reference to the NBU, the new list of currencies by which the official hryvnia exchange rate will be determined will include 41 foreign currencies and special drawing rights (SDRs). According to the new rules, this list will include currencies of the first group of the Classifier of Foreign Currencies and Bank Metals, as well as currencies of countries that provide at least 95% of trade turnover with Ukraine according to the balance of payments data of the previous year. The list of currencies will be adjusted every three years.
The NBU is also introducing changes to the frequency of setting the official exchange rate for 11 currencies, including the Algerian dinar, the Malaysian ringgit and the Saudi riyal . For these, the rate will be set daily, rather than monthly, as was previously the case. However, for a number of currencies, such as the Russian ruble, the Belarusian ruble and the Brazilian real, the rate will no longer be calculated.
The changes, according to the NBU, are due to increased automation of calculations, which allows for reduced operational risks and more efficient exchange rate determination for a large number of currencies.
For example, we previously wrote that Ukraine is preparing a new bill to tax the income of couriers and taxi drivers.