Ukraine's Currency Split: Central Bank Lowers Dollar Rate as Black Market Price Rises.

17.04.2026 635

17.04.2026 635

Ukraine's Currency Split: Central Bank Lowers Dollar Rate as Black Market Price Rises

Diverging Dollar Rates in Ukraine

According to Novyny.live: During the second week of March 2023, Ukraine's currency markets moved in opposite directions. The National Bank of Ukraine (NBU) lowered its official exchange rate, while the black market saw the U.S. dollar's value increase. On March 9, 2023, the black market rate reached 44.043 hryvnias for selling a dollar and 43.832 hryvnias for buying one. That same day, the NBU cut its official rate by 8 kopiykas to 43.7292 hryvnias per dollar. This divergence highlights the complex pressures on Ukraine's economy during a period of conflict.

Average bank quotations also shifted, rising by 7 kopiykas for selling and 15 kopiykas for buying, reaching 44.05 and 43.55 hryvnias per dollar respectively. After 11:00 AM on March 9, the dollar rate climbed further to 44.093 hryvnias for selling and 43.913 hryvnias for buying.

Outlook for Further Rate Increases

Economist Oleksiy Plotnikov attributed the record-high rates to a strengthening U.S. dollar against the euro. He stated that

"The National Bank has begun to gently let the dollar rate go."

Plotnikov also warned of prospects for further growth, indicating that under a pessimistic scenario, the official hryvnia rate could exceed 44 per dollar. He stressed that surpassing the annual average of 45.70 hryvnias per dollar appears entirely plausible. The economist's comments reflect broader concerns about currency stability in the region.

Consequently, these fluctuations in the dollar exchange rate are causing concern among experts and the public. The situation on the currency market remains tense, and further rate changes could impact the country's economic stability. Amid global economic challenges like inflation and currency pair volatility, it is crucial to monitor the exchange rate dynamics and potential measures from the National Bank to support the hryvnia's stability.