From March 31, the National Bank will stop setting the official hryvnia exchange rate against the Russian ruble, as well as a number of other currencies, including the Belarusian ruble and the Iranian rial. This is reported by forex.ua with reference to the NBU website.
Ukraine currently has two lists of currencies for determining the official exchange rate: a daily list, which includes 33 currencies, and a monthly list, which includes 24 currencies. The National Bank plans to combine these lists into a single daily basket, which will include currencies of the first group of the classifier, as well as currencies of states that provide at least 95% of trade with Ukraine.
The updated basket will contain only 41 currencies, among which the ruble and IMF special drawing rights are not provided.
The list of currencies of such countries as Belarus, Brazil, Armenia, Dominican Republic, Iraq, Iran, Kyrgyzstan, Libya, Morocco, Taiwan, Pakistan, Tajikistan, Turkmenistan and Uzbekistan is excluded from the list of currency basket.
The frequency of updating the official hryvnia exchange rate for 11 currencies will change from monthly to daily. This list includes the currencies of Algeria, Thailand, UAE, Vietnam, Georgia, Lebanon, Malaysia, Saudi Arabia, Serbia, Bangladesh and Tunisia.
The list will be reviewed every three years or more often if Ukraine’s trade turnover with the countries of the respective currencies drops below 90%.
