The NBU has published the exchange rates as of August 10
On August 10, the National Bank of Ukraine set the official exchange rates, recording a slight decline in the dollar and the euro following their appreciation at the end of the week. The foreign exchange market is influenced, in particular, by fuel prices and import costs.
The NBU set the official exchange rates for August 10. Compared to the previous banking day, the dollar remained virtually unchanged, while the euro continued its slight decline following a correction at the end of the week.
The official exchange rate for the U.S. dollar is 44.75 UAH, which is 1 kopeck less than on August 7 (44.76 UAH). At the same time, the euro fell by 6 kopecks—from 51.67 UAH to 51.61 UAH.
Why the fuel sector could affect exchange rates
According to Taras Lesovoy, director of the Department of Financial Markets and Investment Activities at Globus Bank, the fuel sector could become one of the main sources of tension for the currency market.
The reason is the unstable situation in the Middle East, which is keeping global oil prices unpredictable. This creates additional risks for Ukrainian importers of petroleum products.
To avoid having to buy foreign currency at the last minute, companies may increase their purchase volumes in advance.
“Importers will increase their foreign currency purchases and build up a certain reserve. This behavior gives them a time and financial buffer, but at the same time increases overall demand in the interbank market,” Lesovyi explained.
At the same time, he said, the National Bank of Ukraine will continue to be able to curb potential exchange rate fluctuations through currency interventions.
