• 22/04/2024 05:45

The NBU plans to “untie” the hryvnia exchange rate from the dollar: why and what bankers propose to replace the American currency with

ByJohn Newman

Mar 28, 2024

Experts from the National Bank of Ukraine (NBU) plan to reconsider the usual approach to evaluating the dollar, abandoning it as the main “exchange rate peg” currency.

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The NBU plans to “untie” the hryvnia exchange rate from the dollar: why and what bankers propose to replace the American currency with

Photo – psm7.com

On the fact that such a change can be introduced only if the role of the euro currency in the settlement operations of Ukraine is strengthened, writes NBN, citing the official page of the National Bank Ukraine.

According to the “Council of Oversight Indicators of the Money and Foreign Exchange Markets”, given the fixed growth dynamics of the US dollar, it is necessary to take into account the European integration aspirations of Ukraine, and in the near future raise the issue regarding the transition from  American to European, “as the main currency of the exchange rate peg.”

In addition, bankers came to the following conclusions:

  • contrary to the correspondence of the indicators of the foreign exchange market of Ukraine and&nbsp ;calculation methodology to the appropriate conditions and needs of the market, it is necessary to expand the procedure for calculating the reference value of the hryvnia to euro exchange rate;
  • expediency has emerged regarding the transition to a unified/daily list of currencies, providing for the determination of the official hryvnia exchange rate.

Earlier, we wrote about the fact that the expert said that he expected the national currency in 2024 .

nbnews.com.ua

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