Hryvnia’s slump continues as exchange rate approaches 27 per dollar

The national currency has tumbled to the lowest level since February 2015.

17 February 2016 12:25

February 17, the National Bank of Ukraine set an official exchange rate of the Ukrainian Hryvnia to the US dollar at the level of 27.0197 UAH / USD, reducing it by 20 kopiykas compared to a previous day (26.8180 UAH / USD on Tuesday, February 16).

According to the bankers, it is unlikely to take the rate back down to its previous low of UAH 24.1 per dollar (the State Budget-2016).

- In practice, the National Bank carries out the policy of fixing the exchange rate at a certain level, or in a small range, but does not assume any obligation as for its holding or further dynamics, said Igor Shumylo, former Deputy Head of the National Bank of Ukraine.

The euro exchange rate was set at 29.9826 (February 16 - UAH 29.9826), 10 rubles - 3.4480 (February 16- UAH 3.4480).

Ukrainian hryvnia hit its historic low of 30.0101 UAH per dollar on February 26, 2015.

Photo: Internet