The dollar rose while the euro fell: The NBU updated its exchange rates for May 18
On May 18, the National Bank of Ukraine raised the official exchange rate for the dollar while lowering the exchange rate for the euro. The foreign exchange market is influenced by the balance of supply and demand, fuel import volumes, and regulatory measures aimed at curbing sharp exchange rate fluctuations.
The dollar has risen in value: the NBU rate increased to 44.07 UAH (+12 kopecks).
The euro has fallen in value: the rate decreased to 51.26 UAH (-17 kopecks).
The market remains managed: the NBU is curbing sharp fluctuations through interventions and a managed flexibility policy.
On May 18, the NBU set the dollar exchange rate at 44.07 UAH, which is 12 kopecks higher than on May 15 (43.95 UAH).
At the same time, the euro fell to 51.26 UAH from 51.43 UAH the previous day—a decline of 17 kopecks. Thus, the dollar continued its moderate strengthening, while the European currency began to decline.
According to Taras Lesovoy, Director of the Department of Financial Markets and Investment Activities at Globus Bank, the NBU continues to operate within a managed flexibility regime. This means that the regulator does not fix the exchange rate but smooths out its fluctuations to avoid sharp changes for businesses and the public.
In the event of excess demand, the National Bank may enter the market with currency interventions, maintaining stability without artificially fixing the exchange rate.
The expert notes that demand for foreign currency may currently exceed supply by 10–15%. The main factor behind this imbalance remains fuel importers, who are actively buying foreign currency amid high energy prices and geopolitical risks.
As a reminder, the National Bank of Ukraine set the official exchange rate for Friday, May 15.
Pyshnyy stated that the amount of cash in circulation in Ukraine has decreased.
