Ukrainian Hryvnia Weakens: Official Dollar Rate Hits 43.90 as of March 10.

US Dollar Exchange Rate in Ukraine for March 10, 2023

According to TSN.ua: Ukrainian banks raised the official US dollar exchange rate on March 10, 2023. The new official rate is set at 43.90 hryvnias per dollar, marking an increase of 17 kopiykas compared to Monday's rate. This adjustment has led to fluctuating rates across banking institutions and currency exchange kiosks. The Ukrainian hryvnia has faced significant pressure since the onset of the full-scale invasion, with the National Bank managing a fixed exchange rate.

The average dollar rate at exchange kiosks is currently 44.20 hryvnias. In the banking sector, the selling rate for dollars varies between 44.05 and 44.35 hryvnias, while the buying rate ranges from 43.45 to 43.70 hryvnias. The specific rates at major banks are detailed below.

Dollar Exchange Rates at Major Banks

Bank buying rates for the US dollar:

• 'PrivatBank' - 43.50 UAH
• 'Oschadbank' - 43.70 UAH
• 'UkrSibbank' - 43.65 UAH
• 'PUMB' - 43.60 UAH
• 'Raiffeisen Bank' - 43.45 UAH
• 'MTB Bank' - 43.70 UAH
• 'abank' - 43.50 UAH
• 'Credit Agricole Bank' - 43.65 UAH

Bank selling rates for the US dollar:

• 'PrivatBank' - 44.10 UAH
• 'Oschadbank' - 44.15 UAH
• 'UkrSibbank' - 44.25 UAH
• 'PUMB' - 44.20 UAH
• 'Raiffeisen Bank' - 44.05 UAH
• 'MTB Bank' - 44.20 UAH
• 'abank' - 44.20 UAH
• 'Credit Agricole Bank' - 44.35 UAH

At Monobank, the dollar rate is 44.73 hryvnias for purchases and 44.23 hryvnias for sales. It is worth noting that on March 6, Hungary detained cash collectors from 'Oschadbank', an incident which may have also influenced market conditions.

The dollar's appreciation reflects the ongoing economic challenges in Ukraine, which can be linked to both domestic factors and external events, such as the incident involving the cash collectors.

This rate increase is likely to affect prices for goods and services within the country, as well as the investment climate. The situation on the currency market remains fluid, and further changes may depend on developments in the political and economic landscape both within Ukraine and beyond its borders.