Hryvnia's weakening by 1.5% in Oct seasonal, situation under control - NBU

MOSCOW. Oct 24 (Interfax) - The hryvnia's weakening by 1.5% in October is a seasonal fluctuation, the hryvnia has strengthened by 0.65% in general since the beginning of 2025, and the situation on Ukraine's forex market is under control, Ukrainian media reported citing the National Bank of Ukraine (NBU).

"A slight devaluation, which has been 1.5% since the beginning of this month, is being observed due to the seasonal factor, but the hryvnia has strengthened by 0.65% since the beginning of the year [...] The situation on the market is under control," media quoted NBU Deputy Governor Yury Gelety as saying at a press briefing in Kiev.

The dynamics of the exchange rate has been under control throughout the year, he said. Thus, after a brief devaluation at the beginning of 2025, forex supply grew gradually, allowing the hryvnia to embark on a stable horizontal trend, he said.

The NBU will stick to its controlled exchange rate flexibility policy, which helps achieve the 5% inflation target, he said.

"The hryvnia's fluctuations are in sync with global trends: the weakening of the U.S. dollar's exchange rate against the euro impacts the dynamics of the hryvnia, and such interaction is natural for the market," NBU First Deputy Governor Sergei Nikolaichuk said.

The euro is used in an ever-growing number of Ukraine's foreign trade transactions, which also influences the structure of the forex market, Nikolaichuk said.

The hryvnia's official exchange rate for October 23 was UAH 41.7550/$1. On Thursday, the hryvnia also weakened to UAH 41.9325/$1 in trading on the interbank market.