Ukraine's Central Bank Raises Official Dollar Rate as Street Exchange Value Drops.

Diverging Dollar Rates in Ukraine

According to Novyny.live: On February 4, 2026, Ukraine's National Bank increased the official U.S. dollar exchange rate to 43.1928 hryvnias per dollar. However, a contrasting trend emerged at currency exchange booths, where the selling rate for the dollar actually fell to 43.23 hryvnias. This divergence has generated concern among the public and financial market participants. The Ukrainian hryvnia has faced significant pressure since the onset of the full-scale war, making such market movements particularly sensitive.

Early on February 4, exchange booths were selling the dollar at 43.27 hryvnias and buying at 43.15. By 8:00 AM, the rates shifted to 43.25 for selling and 43.15 for buying. By approximately 2:00 PM, the selling rate had decreased further to 43.23 hryvnias, with the buying rate at 43.13. Meanwhile, the average rate at commercial banks rose, reaching 43.50 hryvnias for selling and 43.00 for buying.

Currency Market Volatility

The hryvnia's exchange rate demonstrated notable volatility in January 2026, depreciating from 42.17 to 43.41 hryvnias per dollar. The state budget for 2026 is based on an average annual exchange rate of 45.7 hryvnias per dollar, a figure that may influence future currency fluctuations.

Financial experts have commented on the market situation.

Analyst Oleksiy Plotnikov notes: 'We are experiencing a devaluation, but it is controlled. The National Bank is intervening, and gold and foreign exchange reserves are currently at their highest level since independence. I believe the pace is slowing, and we will not reach 44-45 hryvnias per dollar in the near future.'

Consequently, the dollar's exchange rate remains dynamic, with opposing trends visible in different market segments. Monitoring further changes is crucial, as they could impact the country's economic stability.

The National Bank's decision to raise the official rate represents an attempt to regulate the currency market amid growing volatility. While the street exchange market reacted with a lower rate, such shifts can have serious implications for Ukraine's broader economic conditions. Expert predictions point to potential further fluctuations, underscoring the need for careful market monitoring and potential measures to support the hryvnia's stability.