The National Bank does not plan to peg the hryvnia exchange rate to the euro instead of the dollar in the near future.
The NBU reported this to the Ukrainian News agency.
In November 2024, a public discussion of proposals for new approaches to calculations and publication of currency market indicators took place, which, in particular, provide for the introduction of a new benchmark – the reference value of the hryvnia exchange rate to the euro as of 12:00 p.m.
Currently, based on new approaches to calculations and publication of currency market indicators, a draft amendment to the Regulation on establishing the official hryvnia exchange rate to foreign currencies and calculating the reference value of the exchange rate to the U.S. dollar and the accounting price of banking metals is being prepared, which will be submitted for consideration by the NBU Board in accordance with the established procedure.
In Ukraine, historically, the U.S. dollar was the exchange rate-forming currency.
Currently, against the backdrop of European integration processes and growing economic ties with the EU, the weight of the euro is increasing, which strengthens the arguments in favor of changing the exchange rate-forming currency.
A decision to change the peg of the hryvnia exchange rate to the euro instead of the dollar is not on the table at the moment, it is a matter of perspective.
The NBU is constantly analyzing the situation, the relevant department is discussing this issue with the market.
But we cannot say that something will happen tomorrow and such a change in the exchange rate-forming currency will become a fact.
As the Ukrainian News agency earlier reported, on August 29, 2024, the Council of Oversight of Indicators of Money and Foreign Exchange Markets of Ukraine conducted the second regular review of the UONIA money market indicator and foreign exchange market indicators (the official hryvnia exchange rate to foreign currencies, the accounting price of banking metals, and the reference value of the hryvnia exchange rate to the U.S. dollar).
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