Hryvnia collapses to UAH 24.5 to dollar on interbank market

15:17, 05 February 2015
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Hryvnia quotations against the dollar on the interbank currency market on Thursday plunged to UAH 16.84/17.04 to the dollar as the National Bank of Ukraine announced it was ending daily auctions in the currency market to determine an equilibrium exchange rate.

REUTERS

Some quotes for the hryvnia against the dollar on the interbank market, taking into account commission payments, reached UAH 24.5 to the dollar.

A broker at a commercial bank told UNIAN that trading on the market was active, but there weren’t any general trends for rates and the quotes were varied.

According to the source, the hryvnia quotes against the euro have settled at UAH 19.18/19.41, and against the Russian ruble they have settled at UAH 0.2490/0.2520.

According to the National Bank of Ukraine, the weighted average exchange rate of the hryvnia as of 1300 was UAH 18.0038 to the dollar, with 19 deals concluded by this time worth a total of $10.81 million.

Meanwhile, the NBU sharply cut the official exchange rate of the hryvnia to a new historic low on Thursday. As of 1400 the central bank set the following official exchange rates of the hryvnia against leading foreign currencies:

$100 – UAH 1,799.9763 (as of 1400 on February 4 it was UAH 1,672.8929);

EUR 100 – UAH 2,060.2529 (as of 1400 on February 4 it was UAH 1,903.0830);

10 Russian rubles – UAH 2.7503 (as of 1400 on February 4 it was UAH 2.4684).

As UNIAN reported earlier, the National Bank of Ukraine gave up conducting daily auctions in the currency market to determine an equilibrium exchange rate.

"We've made a decision: Today we’re stopping conducting our daily auctions, as they already make no sense. We’ve stopped ‘torturing’ the indicative exchange rate," Gontareva said.

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