The NBU may refuse to use the US dollar as the main currency of the exchange rate peg if the role of the euro continues to grow in payments within the country.
This was reported by the National Bank.
The NBU reports that at the end of February, the Council of Oversight Committee for Ukrainian Money Market and FX Market Indicators carried out the first periodic review of foreign exchange market indicators (the official exchange rate of the national currency against foreign currencies, the accounting value of precious metals, and the reference value of the hryvnia to the dollar).
"Although the currency structure of transactions in the Ukrainian foreign exchange market confirms the status of the dollar as the key exchange rate currency, the number of transactions in euros in the segment of financial institutions' transactions with clients has been growing since pre-war times. Thus, the share of transactions in euros in non-cash currency purchases by clients has approached 50%. The continuation of this trend, taking into account Ukraine's European integration aspirations, may in the future raise the issue of the advisability of switching from the U.S. dollar to the euro as the main currency of the exchange rate peg," the National Bank notes.