The National Bank of Ukraine has adjusted the official exchange rates of major currencies for Wednesday, June 17. The US dollar and the euro showed a slight decline against the national currency. The regulator also revealed details of the monetary policy aimed at protecting the real incomes of citizens.

Official rates for June 17

According to the regulator, the official exchange rate of the US dollar is set at 44.78 hryvnias. This is 3 kopecks lower than the previous day's figure, when the dollar traded at 44.81 hryvnias.

The European currency also demonstrated a decline. The official exchange rate of the euro amounted to 51.94 hryvnias, which is 9 kopecks less than on June 16 (52.03 UAH). Thus, after a period of fluctuations, both major currencies are showing moderate dynamics without sharp jumps.

Inflation protection strategy

At the National Bank, they explained why they are paying special attention to the current situation. The key task of the regulator is to keep real interest rates on hryvnia instruments at a level that allows protecting the savings of the population from inflationary devaluation.

The essence of the approach is as follows: the profitability of deposits and other financial instruments should compensate for or exceed the level of inflation. Under such conditions, it becomes more profitable for Ukrainians to keep funds in the national currency than to transfer them to dollars or euros.

NBU economic logic

Experts at the regulator note that such a policy performs several important functions:

  • Reducing pressure on the exchange rate: If citizens do not rush to exchange the hryvnia for foreign currency, the demand for foreign currency falls, which stabilizes the market.
  • Inflation control: Keeping savings within the country helps reduce inflationary expectations and curb price growth.
  • Market stability: The more funds remain in hryvnia instruments, the more manageable exchange rate fluctuations become.

Thus, the interest rate policy of the National Bank remains one of the key factors affecting not only the profitability of bank deposits but also the overall situation with the exchange rate of the national currency.