The National Bank of Ukraine set the official exchange rates for Thursday, September 17, 2026. According to RBC-Ukraine, the dollar/euro pair continued to weaken: the dollar rate fell by 3 kopecks compared to the previous day, while the euro rate dropped by 7 kopecks. This continues the moderate trend of the hryvnia's strengthening recorded at the interbank level in the early part of the second half of September.
Official Rates on September 17
On September 17, the NBU set the official dollar rate at 44.60 UAH, which is 3 kopecks lower than the day before. The euro rate fell by 7 kopecks — to 51.44 UAH. For comparison: on September 16, the official rates were 44.63 UAH per dollar and 51.51 UAH per euro. Thus, within a single day, both key currencies for the Ukrainian market became cheaper in hryvnia terms, and the gap between them remained at approximately 6.84 UAH.
Dynamics and Context of the Decline
The rate changes on September 17 are moderate in nature: a drop of 3 and 7 kopecks respectively is not a sharp fluctuation, but it does confirm a stable trend of the currency pair weakening against the hryvnia. A number of Ukrainian media outlets characterize the movement in their headlines as a "sharp fall" of the dollar, euro, and zloty, whereas the actual numerical changes for the dollar and euro, confirmed by NBU data, remain minor. This is important for the reader to keep in mind: headline style does not always match the actual magnitude of daily dynamics.
How to Allocate Savings: The Mamedov Model
One possible approach to allocating savings was outlined by Sergei Mamedov, Vice President of the Association of Ukrainian Banks and Chairman of the Board of "Globus Bank." According to his conditional model, about half of the funds can be kept in hryvnia-denominated instruments, with the rest distributed among foreign currencies. The banker emphasized, however, that this proportion should not be treated as a universal recommendation for everyone: the choice of currency should be tied to upcoming expenses. If a person regularly travels or has expenses in Eurozone countries, it makes sense to keep part of the savings in euros to avoid additional conversion costs.
Hryvnia Instruments and OVGBZ
For hryvnia savings, especially in large amounts, Mamedov advises considering not only deposits but also internal government bonds (OVGBZ). When buying bonds, he notes, it is necessary to account for possible banking or brokerage commissions, as well as the cost of account maintenance — these factors can significantly reduce the final yield. In other words, the "hryvnia" part of the portfolio requires no less careful selection of instruments than the currency part.
Practical Takeaways for the Investor
The day's bottom line for a private investor comes down to three observations. First, the rate on September 17 confirms a smooth, rather than abrupt, movement of the currency pair. Second, diversification between the hryvnia and foreign currencies remains a basic strategy, but its proportions are individual and depend on the investment horizon and the nature of expenses. Third, when moving to OVGBZ and brokerage accounts, accounting for commissions becomes the key factor. The combination of these factors determines how effectively savings will work under the current rate dynamics.
