Rules for forming the currency exchange rate in Ukraine

Rules for forming the currency exchange rate in Ukraine
November 1, 2022 Marmelade-GF974

For all people, profitable exchange services are offered at Харьков обменка. Foreign currency is part of the life and activities of many citizens in Ukraine. First of all, these are sailors, students studying in foreign universities, people who leave for work.

Formation of the course

The indicators are determined by the National Bank of Ukraine. It is his data that become the reference point for commercial credit organizations and exchange offices.

The value of the hryvnia in relation to the currencies of other countries is determined as a weighted average exchange rate, resulting from the interaction between buyers and sellers on the interbank market. The deviation in the final price does not exceed 2%, this prerogative is entirely within the jurisdiction of the NBU.

The exchange rate is based on the results of the current day’s trades and is announced after their end. It is valid for the next day, although it may change in case of force majeure. The regulator can influence the exchange rate by buying or selling currency and the hryvnia simultaneously with other participants. Thanks to such interventions, it is possible to contain the booming demand and price jumps.

Exchange points should not deviate greatly from the announced value of currencies, enter their own parameters when buying and selling. Some market participants try to attract customers by offering them favorable conditions. For example, the exchange on Rymarskaya deals with this, treating visitors correctly, taking into account their interests.

Factors influencing the course

Among the main reasons that determine the value of currencies in the country, the following are distinguished:

The general situation in the politics and economy of the world, including the actions of Central Banks – issuers of major currencies.
The situation in the politics and economy of Ukraine, actions of the government and the NBU.
Seasonal demand for foreign currency or hryvnia, when the flow of people leaving for work or coming from them increases, periods of tax payments by enterprises and organizations, other factors.
News of a political or economic nature that can cause a short-term surge in demand or supply.

Often these factors act simultaneously and for a long period, forming a trend. In such situations, the intervention of the NBU cannot always help, because its gold and currency reserves are limited. In these cases, the exchange can focus on the trend, anticipating the movement of the value of currencies and offering a wider gap between the purchase and sale price. In such cases, it is necessary to soberly assess the situation, because hyped demand always goes away, the exchange rate returns to average indicators.