On Tuesday, October 27, the National Bank set the following official exchange rates:
- US dollar – 45.5382 UAH ( +0.3361 UAH to the official rate on Monday, October 26);
- Euro – 50.9527 UAH ( +0.3761 UAH to the official rate on Monday, October 26).
The rates were set at 15:30 on October 26 and reflect the following trends:
1. Immediately after the start of trading on the interbank foreign exchange market, quotations of non-cash dollar continued to grow, despite the active interventions of the National Bank, and by 12:00 reached 45.55 UAH on the "bid" position. The average price of transactions at 12:00 was 45.4727 UAH – 31.2 kopecks higher than last Friday. The sharp rise in quotations caused panic on the interbank market: buyers were ready to take at any price, and some sellers withdrew their orders, deciding to watch how far the dollar would rise. Shortly before the close of trading, non-cash dollar set a new historic maximum – 45.67 UAH on the "bid" position, and only at this level the National Bank managed to stop the growth. Logically, by the close of trading the average price had risen even more, so the NBU raised the official dollar rate for Tuesday immediately by 33.6 kopecks.
2. Euro on the international FOREX market on Monday was initially traded in a narrow range of 1.12023-1.12267 dollars, but after 12:30 it went down, despite the growth of the business climate index and the business expectations index of Germany from the IFO institute. By the time of writing the article, the euro had fallen to the level of 1.11777 dollars. At the time of fixing, the euro was sold at 1.1189 dollars – at the same level as last Friday. Therefore, in parallel with the increase in the official dollar rate, the NBU raised the official euro rate for Tuesday by 37.61 kopecks.
As we can see, the devaluation spiral in Ukraine is untwisting again. The nearest comments from the NBU will be heard on Thursday, at a press briefing after the end of the board meeting on monetary policy issues.
