In brief

• The official dollar rate in Ukraine rose by 49 kopiyky in two days, to 45.54 hryvnias, and on the interbank market reached 45.67 hryvnias.
• At some exchange offices, dollars were sold at 46.5 hryvnias.
• The NBU raised its key rate to 16.5% due to growing price pressure and worsening inflation expectations.
• Inflation in September was 10%, and it is expected to peak at 12.5% at the end of 2026.

The dollar has been rising for two days

The official dollar rate rose by 49 kopiyky over two days and reached 45.54 hryvnias per dollar (Валютный рынок штормит. Почему доллар обновил исторический максимум на межбанке и где предел управляемой девальвации — прогноз на ноябрь – NV). On the first day the official rate rose by 15 kopiyky, to 45.2 hryvnias, and the next day by 34 kopiyky. On the interbank market the dollar reached 45.67 hryvnias, and at some exchange offices it was sold at 46.5 hryvnias.

Cash reacts faster than the central bank

According to the Minfin portal, on the morning of October 27 interbank quotes opened in the range of 45.66–45.69 hryvnias. Average bank rates were 45.33–45.94 hryvnias, and at exchange offices 45.85–46.18 hryvnias.

Why the NBU is raising rates

The Board of the National Bank of Ukraine raised the key rate to 16.5%. It justified the decision by a strong increase in price pressure and a deterioration in inflation expectations (Между девальвацией и экономическим спадом. Почему Нацбанк повысил учетную ставку и позволил доллару снизиться – NV). Inflation accelerated to 10% in September, and the bank expects it to peak at 12.5% at the end of 2026. The economy was contracting under the impact of attacks and the blockade of seaports: in the third quarter, GDP fell by 0.5% year on year.

Also read

• Ile będzie kosztować 100 dolarów w Ukrainie do 1 listopada: prognoza bankiera