Hryvnia official rate again hits new historic low of UAH 16.15 to dollar
The National Bank of Ukraine again sharply cut the official exchange rate of the hryvnia to a new historic low on Friday.
The central bank at 1400 on Friday set the hryvnia exchange rate at UAH 16.1578 to the dollar, or 20 kopiykas lower than the last historic low rate the bank set just the day before, according to the official Web site of the NBU.
According to the site, quotes for the hryvnia against the dollar on the interbank currency market as of 1400 on Friday reached UAH 16.1070 to the dollar.
As a result of today’s indicative auction held by the NBU, the hryvnia equilibrium exchange rate was set at UAH 16.0072 to the dollar.
As UNIAN reported earlier, in 2014, the National Bank of Ukraine moved to flexible exchange rate formation on the foreign exchange market, which resulted in the hryvnia practically halving in value against the dollar.
Since the introduction of the hryvnia in 1996, it has suffered several swift drops in its value: In 1998, its value fell by almost three times, from UAH 1.80 to UAH 5 to the dollar, while at the end of 2008 it sagged to UAH 8 to the dollar. It then dropped again at the end of last year, from UAH 8 to UAH 13 to the dollar, and has been losing value in fits and starts since then.