The National Bank of Ukraine is considering the possibility of changing the main currency of the exchange rate peg, abandoning the dollar in favor of the euro, in connection with the growing role of the euro in calculations in the country. The NBU Oversight Council of Money and Currency Market Indicators conducted the first periodic review of currency market indicators.
The results of the review showed that the US dollar remains the main exchange rate-forming currency, but the share of transactions in euros is constantly growing, in particular, in transactions between banks and clients. According to data, the share of transactions in euros approached 50%.
Experts believe that the further growth of this trend may lead to a transition to the euro as the main exchange rate peg. However, Council members note that market participants already feel the need to calculate the hryvnia to euro exchange rate.
Taking into account these factors, the National Bank is considering the possibility of switching to a single (daily) list of currencies to establish the official exchange rate of the hryvnia and provide additional information on the exchange rate of the hryvnia to the euro.
