The dynamics of the hryvnia exchange rate against the dollar and euro since the beginning of March reflect the influence of market factors, the press service of the National Bank of Ukraine (NBU) reported in response to a request from the Interfax-Ukraine agency, emphasizing the central bank’s readiness to respond promptly to maintain the stability of the foreign exchange market.

"Over the past few weeks, as a result of increased geopolitical uncertainty and its effects on the foreign exchange market, net demand for foreign currency has increased, and accordingly, the hryvnia has weakened against the US dollar," the comment reads.

"The euro and many other currencies of Ukraine’s main trading partners also weakened against the US dollar. As a result, the hryvnia’s exchange rate against these currencies remained relatively stable," the regulator’s press service added.

The National Bank emphasized that the hryvnia exchange rate’s dynamics reflect the influence of market factors, and the exchange rate acts as a shock absorber, as envisaged by the managed flexibility regime.

"At the same time, the National Bank’s goal remains to maintain the stability of the foreign exchange market. The NBU is prepared to respond promptly to changes in the foreign exchange market situation using its tools and available international reserves," the Central Bank’s press service noted.

She also recalled that Ukraine’s international reserves as of March 1, 2026, amounted to almost $55 billion, which provides funding for 5.7 months of future imports.