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 National Bank to change way of setting official foreign currency rate

The National Bank of Ukraine has changed the procedure for establishing the official exchange rate of hryvnia to foreign currencies and the mechanism for its calculation on Tuesday, March 31.

Censor.NET reports citing Novoie Vremia.

From now on the official hryvnia exchange rate will be set at the end of the day and become operational from the next business day.

The official rate established on the last working day of the week or the day before holiday will be operational during the following weekend or holiday.

The official rate established on the last working day of the week or the day before holiday will be valid on the first working day of the next week or the first working day after holiday.

In addition, the exchange rate of foreign currencies, which provide for the establishment of the official rate once per month, will be established on the last working day of the month and will be operational from the first to the last day of the next calendar month.

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The established official exchange rate will be published on the day of its setting before 6 p.m. on the official website of the NBU.

Previously the official hryvnia exchange rate established by the NBU became operational upon its publication which was taking place every day at about 2:30 p.m.

The calculation of the official hryvnia exchange rate to the U.S. dollar will be carried out on the basis of a weighted average of the hryvnia exchange rate to the US dollar of all concluded agreements on its sale and purchase.

The corresponding changes are envisaged by the NBU resolution #194 dated March 26.

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