2018 can hardly be described as a great year, but for Ukraine’s national currency the hryvnia it was a good one.
Compared to the first day of last year, the exchange rate of the hryvnia has increased by 1.3 percent against the dollar and by 5.6 percent against euro, according to the National Bank of Ukraine or NBU.
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The latest exchange rate of the dollar against hryvnia set by the NBU is Hr 27.69. The rate on Jan. 1 last year was Hr 28.06.
The official exchange rate of the hryvnia against the dollar in 2018 (NBU data).
The exchange rate for euro is now Hr 31.71, while last year it was Hr 33.49.
The hryvnia sank to its weakest against the dollar in 2018 on Jan. 23, when it was Hr 28.87 per dollar. Its low point against the euro last year came on Jan. 26, when it was Hr 35.66 to the euro.
The hryvnia’s highest points were Hr. 25.92 against the dollar on March 14, and Hr 30.16 against euro on May 30.
The hryvnia lost around 70 percent of its value after the EuroMaidan Revolution and start of Russia’s war against Ukraine in the Donbas in 2014, when the NBU stopped pegging it to the value of the dollar. While it has stabilized since then, it has never recovered that value.
The NBU, Ukraine’s central bank, now follows an inflation-targeting regime, and the hryvnia has been allowed to float freely against other currencies. The NBU says it carries out interventions on the currency market only to smooth out excessive fluctuations in the value of the hryvnia.
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