Ukrainian Central Bank Raises Official Dollar Rate to 43.09 Hryvnias.

Dollar Exchange Rate for February 11

According to Novyny.live: On February 11, the National Bank of Ukraine increased the official dollar exchange rate by 6 kopiykas, setting a new official rate of 43.0904 hryvnias per dollar. For context, the hryvnia has faced significant pressure since the onset of the full-scale invasion. Meanwhile, the average dollar rate in commercial banks remained unchanged, with a selling rate of 43.35 hryvnias and a buying rate of 42.825 hryvnias.

The black market rate for the dollar also fluctuated on February 11. Dollars were sold at 43.18 hryvnias and bought at 43.083 hryvnias. Around 2:00 PM that same day, the black market rate was 43.147 hryvnias for selling and 43.055 hryvnias for buying.

Expert Recommendations

Financial experts advise diversifying currency holdings. Specifically, Bohdan Yaremchuk noted:

“I would recommend investing part of the funds in dollars and another part in euros.” - Bohdan Yaremchuk

This strategy could be prudent given the ongoing volatility in the currency market.

The rate hike by the National Bank of Ukraine indicates continued instability in the foreign exchange market. Despite the official increase, the average dollar cost in banks and on the black market did not change substantially, which may suggest some stability in currency demand.

Diversifying investments across different currencies, as experts recommend, can help investors mitigate risks under the current economic conditions.