The Dollar and the Euro Are Falling in Value: NBU Exchange Rates as of September 1
The National Bank of Ukraine set the official exchange rates for September 1. The U.S. dollar fell by 3 kopecks, and the euro by 25 kopecks compared to the previous day.
Thus, both major foreign currencies began the fall with a decline in their official exchange rates. At the same time, the foreign exchange market anticipates changes in demand with the start of the new month.
NBU Exchange Rates
On Tuesday, September 1, the NBU set the official exchange rate for the dollar at 44.52 UAH per dollar. Compared to the previous rate, the U.S. dollar fell by 3 kopecks. On August 31, the official dollar exchange rate was 44.55 UAH.
The official euro exchange rate for Tuesday is 51.63 UAH per euro. The European currency has depreciated by 25 kopecks compared to the previous rate. On August 31, the official euro exchange rate was 51.88 UAH.
Factors That May Affect the Cash Exchange Rate
In early September, there may be brief periods of increased demand for cash foreign currency. Taras Lesovyi, director of the Department of Financial Markets and Investment Activities at Globus Bank, discussed this in a comment to RBC-Ukraine.
According to him, news about Russian shelling, price changes, the situation on the fuel market, and the approaching heating season could all simultaneously influence buyer behavior.
At the same time, the expert noted that under such conditions, not only the exchange rate itself but also the spread between the buy and sell rates may change.
According to Lesovyi, currency exchange offices may widen the spread to 1–1.3 UAH or even more, factoring in customers’ psychological anxiety into their own margin.
The expert advises taking this into account when buying currency.
“If currency is purchased as a long-term savings vehicle, waiting a few days often won’t make a significant difference,” Lesovoy noted.
At the same time, he said, a reaction to reports of an alleged record rise in the dollar could lead a person to buy currency precisely at the moment when the seller raises the price to its highest level.
This was reported by the NBU.
