The National Bank of Ukraine (NBU) has changed the official exchange rate of the hryvnya against the US dollar by 25%, to UAH/USD 36.5686, effective 9 a.m. 21 July 2022.
The reasoning behind the decision was the shift in the fundamental parameters of the Ukrainian during the war and the strengthening of the dollar, it explained on its website.
"This step will improve competitiveness of Ukrainian producers, converge exchange rate conditions for different groups of businesses and households, and support the resilience of the economy during the war," the NBU said.
The official UAH/USD exchange rate remains fixed.
"Under conditions of great uncertainty caused by the war, the fixed UAH/USD exchange rate is the main anchor for stabilizing expectations and the key tool for attaining the NBU’s priority goals. These goals are maintaining price and financial stability, which are a prerequisite for economic recovery," the bank said.