Ukraine's hryvnia hits record low against the dollar at 45.2 UAH
The National Bank of Ukraine set the official hryvnia exchange rate at 45.2 UAH per US dollar and 50.5766 UAH per euro on October 26. The dollar rate rose by 15 kopecks, setting a new historic low for the Ukrainian currency, while the euro rate increased by 14.16 kopicks without reaching a record high.
Key points
- Official dollar rate: 45.2 UAH per US$ on October 26
- Official euro rate: 50.5766 UAH per EUR on October 26
- Dollar rate rose by 15 kopecks; euro rate rose by 14.16 kopecks
- The hryvnia set a historic low against the dollar, surpassing the previous record of 45.0802 UAH set on October 14
- Average bank selling rates for the dollar exceed 45 UAH and are approaching 45.60 UAH
- The official dollar rate has weakened by about 6.7% since the start of 2026, compared with a 0.8% decline over the whole of 2025
- KSE Institute forecasts an average annual rate of 44.5 UAH per dollar in 2026, rising to 51 UAH by 2029
Why it matters
The official dollar rate reaching a historic low reflects continued weakening of the national currency. Higher exchange rates against the dollar and euro affect the cost of imports, foreign borrowing and expenses linked to currency operations. KSE Institute's forecasts point to further weakening of the hryvnia against the dollar through 2029.
What happened
On October 26, the National Bank of Ukraine set the official hryvnia exchange rate at 45.2 UAH per US dollar and 50.5766 UAH per euro. The dollar rate increased by 15 kopecks and the euro rate by 14.16 kopicks. The hryvnia thereby set a new historic low against the dollar, surpassing the previous record of 45.0802 UAH per dollar recorded on October 14. The euro rate did not reach a historic high. Average bank selling rates for the dollar exceed 45 UAH and are approaching 45.60 UAH.
How Ukrainian sources describe it
Ukrainian sources highlighted the historic low in the official dollar rate and the gap between official and bank exchange rates. They also cited KSE Institute's forecasts for the average annual hryvnia-to-dollar rate for 2026–2029.
Background
The previous record official dollar rate was 45.0802 UAH per dollar, set on October 14. Over the whole of 2025, the official hryvnia-to-dollar rate declined by 0.8%, while from the start of 2026 it has weakened by approximately 6.7%. KSE Institute projects an average annual dollar rate of 44.5 UAH in 2026, 47.8 UAH in 2027, 50.6 UAH in 2028 and 51 UAH in 2029.