On Friday, April 17, 2026, the Ukrainian national currency experienced another significant decline. According to the official data released by the National Bank of Ukraine (NBU), the hryvnia exchange rate has hit new historic lows against the euro and depreciated against the US dollar. As reported by the financial portal Minfin, the American currency jumped on the interbank market, prompting analysts to closely monitor the ongoing macroeconomic shifts.
The official US dollar exchange rate for Monday will be set at 43.8943 UAH, marking an increase of 0.2575 UAH. Meanwhile, the euro has shown an even more dramatic upward trajectory. The euro exchange rate grew by 0.3451 UAH to reach 51.7667 UAH. This represents a new all-time high for the European currency in Ukraine, marking the third such record broken just this week. The previous maximum was recorded on April 16 at 51.33 UAH.
The interbank market reflects this growing tension. The American currency jumped by 21 kopecks and is currently trading in the range of 44.04-44.07 UAH/USD for buying and selling. In currency exchange offices, the average dollar rate fluctuates between 43.90 and 44.10 UAH, while the euro is traded at 51.80-52.20 UAH. Market analysts note that last week, the volume of currency sales on the interbank market plummeted to $765 million, marking the lowest figure since mid-February.
Despite the rapid depreciation, the NBU maintains that the situation on the interbank market remains under strict control. The regulator attributes the current dynamics to external geopolitical factors. Specifically, the escalating conflict in the Middle East has triggered a global surge in demand for the US dollar as a safe-haven asset, which naturally affects the exchange rate not only in Ukraine but globally.
Adding to the complexity is the reported pressure from international financial institutions. Media sources indicate that the International Monetary Fund (IMF) has been urging the Ukrainian government and the NBU to implement a controlled devaluation of the hryvnia. The IMF’s rationale is that a weaker local currency could boost the nominal revenues of the state budget by converting international financial aid at a higher rate. However, NBU officials are firmly resisting this pressure. They argue that the projected fiscal benefits are limited, whereas a sharp devaluation could trigger rapid inflation, eroding the financial stability and purchasing power of the population.
With international reserves currently hovering around $55 billion thanks to continuous Western support, the NBU still possesses sufficient leverage to smooth out extreme currency fluctuations. Nevertheless, business expectations suggest a gradual adaptation to a weaker currency, with corporate forecasts predicting the dollar could reach 45 UAH and the euro 54 UAH within the next 12 months as the country navigates the ongoing economic challenges of the war.