Dollar Got More Expensive: NBU Exchange Rate on 23 September and Whether It’s Safe to Keep Money in Foreign Currency

The National Bank of Ukraine set the official exchange rate for Wednesday, 23 September. Compared with the previous day, the dollar rose, while the euro fell, conversely.

NBU exchange rate For 23 September, the NBU established the official US dollar rate at 44,78 hryvnias, which is 8 kopecks higher than the previous banking day. The official euro rate is 51,33 hryvnias. Over the day, the European currency weakened by 3 kopecks. Photo: official NBU currency rate for 23 September (RBK-Ukraine infographic) Also read: How much 100 dollars and 100 euros cost: currency rates in banks and exchange offices 22 September Why keeping savings only in dollars isn’t the best strategy. As Taras Kozak, founder and president of the investment group “UNIVER,” explained in an interview with RBK-Ukraine, the dollar is a stronger currency than the hryvnia, but the American currency also experiences inflation. Therefore, the cost of living in dollars grows each year—depending on the year, the rate of increase can be 3%, 5% or 10%. Thus, in the expert’s view, the idea of the dollar as a currency you can simply store for years is a myth. “Americans use dollars both as a payment instrument and as an asset that is invested in something,” Kozak explained. According to him, dollars are not just stored as a commodity but invested in assets to generate income.

Also read: The currency market is seeking a new equilibrium: a banker forecast the rate for next week