Dollar Rises, Euro Stagnates: Current NBU Currency Rates on 21 October

The National Bank of Ukraine released official exchange rates for Wednesday, 21 October. The American currency rose, while the euro rate remained unchanged.

NBU currency rate for Wednesday, 21 October, the NBU set the official dollar rate at 45,07 hryvnias. Compared with Tuesday, 20 October, the American currency rose by 7 kopeks — from 45,00 hryvnias. The official euro rate did not change. On 21 October it stands at 50,53 hryvnias — as much as on the previous business day. Photo: NBU currency rate on 21 October (RBK-Ukraine infographic)Also read: Dollar in banks rose, and euro near 51 UAH: currency rates on 20 October Why can the dollar and euro move in opposite directions How Taras Kozak, founder and president of the investment group ''UNIVER'', explained in an interview with RBK-Ukraine, the National Bank of Ukraine primarily tracks the dollar-to-hryvnia dynamics and smooths fluctuations in this market. At the same time, it does not smooth changes in the hryvnia-to-euro rate in the same way. According to the expert, the dollar-to-euro ratio is formed on the world currency market Forex, where trillions of dollars and euros are traded daily. Because of this, one currency may strengthen while another weakens at the same time. Predicting the direction and scale of such changes is difficult, since the market is influenced by geopolitical events and statements by world leaders. As Kozak explains, news can change market participants’ expectations and cause currency rates to move in various directions. If the dollar strengthens significantly against the euro, it may rise against the hryvnia as well, while the euro, conversely, may fall. According to the expert, such a scenario is entirely possible. Also read: Currency prepared for new fluctuations: banker explains what keeps the hryvnia from falling