Exchange rates
The exchange rate between the Ukrainian hryvnia (UAH) and the US dollar (USD) is constantly fluctuating due to economic and political factors. According to the National Bank of Ukraine, as of August 1, 2023, the official exchange rate is 28.40 UAH per 1 USD.
Factors affecting the exchange rate
Several factors can influence the exchange rate between the UAH and the USD, including:
Historical exchange rates
The exchange rate between the UAH and the USD has experienced significant fluctuations over the years. The highest exchange rate was recorded in February 2014, when 1 USD was worth approximately 30 UAH. The lowest exchange rate was reached in March 2015, when 1 USD was worth around 36 UAH.
Exchange rate forecasts
Forecasting the future exchange rate is challenging due to the numerous factors that can influence it. However, analysts and financial institutions regularly provide forecasts based on economic models and market trends.
According to a survey conducted by Bloomberg in July 2023, the median forecast for the UAH/USD exchange rate at the end of 2023 is 29 UAH per 1 USD. The forecast range provided by analysts varied between 28 and 30 UAH per 1 USD.
Tips for converting currency
Frequently Asked Questions (FAQs)
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