Following a review of the key policy rate, the National Bank of Ukraine (NBU) approved a new version of the Regulation outlining the approaches for determining, calculating, and publishing indicators for Ukraine’s money and foreign exchange markets. The changes, which took effect on November 4, 2026, concern reference exchange rates, supplementary information, and calculation methodologies. Here is what this means for the people of Ukraine, as reported by Novyny.LIVE, citing the NBU’s official website.
Foreign Exchange Market and Exchange Rate Indicators
The regulator has introduced amendments to the Regulation on establishing the official hryvnia exchange rate against foreign currencies, calculating the reference hryvnia-to-US dollar and hryvnia-to-euro exchange rates, and determining the accounting price of precious metals.
Notably, as of November 4, a new foreign exchange market benchmark has been introduced: the reference hryvnia-to-euro exchange rate as of 12:00 PM. This rate will be determined based on the reference hryvnia-to-US dollar exchange rate and the average value of BFIX quotes for the US dollar against the euro, recorded between 10:30 AM and 12:00 PM Kyiv time. “The indicator provides a reliable, accurate, and representative exchange rate value, calculated using a reference rate for the hryvnia against the US dollar and a reliable indicator for the US dollar/euro exchange rate in the spot market,” the NBU clarified.
Secondly, the National Bank has updated the methodology for calculating the official exchange rate of the hryvnia against foreign currencies, Special Drawing Rights (SDRs), and the accounting price of precious metals. While the approaches remain similar, the calculation will now incorporate BFIX quotes taken every half hour between 10:30 and 15:00.
