Ukraine's hryvnia tumbles to UAH 27.96 to U.S. dollar on March 26

The official forex rate against the euro for Thursday is fixed at UAH 30.27 per euro.

Photo from UNIAN

Photo from UNIAN

The National Bank of Ukraine (NBU) on March 25 set the official forex rate for Thursday, March 26, at UAH 27.96 to the U.S. dollar, which let the country's national currency weaken by 19 kopiykas.

Read alsoUkraine's central bank doesn't sell currency as forex market gets balanced on its own

The hryvnia tumbled after it had gained 34 kopiykas in value against U.S. dollar on Wednesday, March 25, according to the NBU website.

The official forex rate against the euro for Thursday is fixed at UAH 30.27 per euro – the hryvnia has lost 16 kopiykas in value since March 25.

On Wednesday, the forex rate of the U.S. dollar set by Kyiv's currency exchange booths was UAH 28.25, while that of the euro was UAH 30.50.

As UNIAN reported earlier, higher demand for foreign currency, seen in Ukraine for the second week in a row, was caused by the deterioration of market sentiment amid the global spread of the novel coronavirus. However, late last week, the currency market rush began to subside, as Ukrainians sold more currency than they bought.

The NBU said it would impose no restrictions on Ukraine's forex market and would continue to mitigate excessive fluctuations by selling foreign currency from its reserves.

Two weeks ago, the regulator spent US$981.6 million to support the hryvnia. Over US$1 billion was spent last week.

Today, Ukraine's international reserves are estimated at over US$24 billion, the regulator said.

The central bank in 2019 bought US$7.9 billion on the interbank forex market to replenish the country's international reserves.

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