NBU Sets Daily Reference Exchange Rate of Hryvnia to Euro

The National Bank of Ukraine (NBU) launched a new currency market benchmark on Nov. 4, introducing a daily reference exchange rate for the Ukrainian hryvnia against the euro. Developed in response to requests from market participants, the indicator serves as a reference point for commercial transactions, interbank contracts, and euro-denominated forward deals. The move marks another step reflecting the rise in euro-denominated transactions in Ukraine, driven by deepening trade and economic ties with the European Union and ongoing EU integration efforts.JOIN US ON TELEGRAMFollow our coverage of the war on the @Kyivpost_official. To be published by 12:30 p.m. Kyiv time on weekdays, the new benchmark reflects the hryvnia-to-euro exchange rate as of 12 p.m. local time. The rate is calculated using the hryvnia-to-dollar reference rate at noon paired with the average of half-hourly Bloomberg FX Fixings (BFIX) dollar-to-euro quotes recorded between 10:30 a.m. and 12 p.m. Kyiv time, according to a central bank release. Alongside the new euro benchmark, the NBU revised its broader methodology for calculating official exchange rates of foreign currencies other than the US dollar, Special Drawing Rights (SDRs), the currency of the International Monetary Fund (IMF), and precious metals. The updated system utilizes half-hourly Bloomberg FX Fixings (BFIX) market quotes collected between 10:30 a.m. and 3 p.m. Kyiv time. Additionally, starting Feb. 1, 2027, the NBU will publish daily underlying trade data used in calculating the hryvnia-to-dollar reference rate and official exchange rates. The published data will include transaction volumes, total deal counts, minimum and maximum rates, and whether calculations were executed under normal or contingency conditions. Other Topics of Interest Amber Infrastructure Plans 10-15 Year Exits as 2 Ukraine Funds Hunt ‘Ready-to-Build’ Projects Amber Infrastructure’s Dominykas Tuckus tells Kyiv Post how two funds worth €467 million ($523 million) will help replace missing power and transport capacity, the expected fund returns, and when it plans to exit. Similar transparency reporting will take effect on the same date for the Ukrainian Overnight Index Average (UONIA).