Dollar exchange rate: hryvnia depreciated 20%

On Friday, October 30, the official exchange rate of the hryvnia against the dollar at the end of the third quarter compared to the end of the second quarter of 2020 decreased by 6%. Since the beginning of the year, the hryvnia has depreciated by almost 20%.

This is reported by the inflation report of the National Bank.

So, according to the material, the determining factor that caused the devaluation of the hryvnia in the third quarter of 2020 was the deterioration of the situation in the foreign exchange market, due to the growth of demand for foreign currency in a context of deterioration of expectations.

“The largest net buyers of foreign currency during this period were importers of household goods and car dealers, non-residents in the national government bond market, and direct foreign investors with the objective of repatriating dividends. Currency purchase transactions foreign in future terms also increased, “said the NBU.

During the third quarter, the hryvnia weakened against the dollar, while most of the currencies of Ukraine’s main trading partners strengthened. Thus, this led to a depreciation of both the nominal effective exchange rate and the real effective exchange rate.

Earlier, “Strana” said that before the weekend, the dollar rose in price, while the euro fell. Therefore, the National Bank of Ukraine has set the official rate at 28.43 UAH / 1 USD.

Also earlier it was reported that the “Oppoplatform” demanded a complete change of the state course of Ukraine. This was done to restore the sovereignty of the country and get rid of “external dependency”.