• 23/04/2024 22:41

Devaluation of the national currency against the backdrop of war: the NBU showed the scale of exchange rate losses

ByJohn Newman

Jan 5, 2024

The National Bank again raised the official dollar exchange rate to 38.12 hryvnia/unit, and, as you can understand, the hryvnia continues to depreciate.

Devaluation of the national currency against the backdrop of war: the NBU showed the scale of exchange rate losses

Photo – freepik.com

About the fact that during the 2 war years, the hryvnia fell in price by more than ;25 percent, taking into account the average dollar exchange rate, and more than 28 percent by the end of 2023, writes NBN, referring to statistics posted on the official page of the National Bank of Ukraine (NBU ).

In accordance with the data of the regulatory bank, the average official exchange rate of the national currency against the dollar for the year 2023 was 36.57 hryvnia. At the same time, by the end of last year, the same rate increased noticeably to 37.98 hryvnia/dollar.

Thus, during 2023, the hryvnia depreciated, based on the official average annual rate, by 11.6 percent, and according to the rate for the last days of 2023 by 3.7 percent.

Note that the value of the American currency from the end of July 2022 was fixed at 36.57 hryvnia, however, with the arrival of October 2023, the NBU introduced a regime of controlled exchange rate flexibility, and, judging by the everything, precisely for this reason, until the end of last year, the price of the hryvnia “sank” by 28.2 percent.

Devaluation of the national currency against the backdrop of war: the NBU showed the scale of exchange rate losses

 Devaluation of the national currency against the backdrop of war: the NBU showed the scale of exchange rate losses

We previously wrote that a financial analyst made a forecast about the dollar exchange rate for January 2024.

nbnews.com.ua

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