Ukrainian Exchange Rates Tugboat by Fuel Sector Uncertainty

The National Bank of Ukraine (NBU) has published the official exchange rates for August 10, showing that the US dollar remains virtually unchanged compared to the previous banking day. The official rate for the U.S. dollar is now 44.75 UAH, which is 1 kopeck less than on August 7 (44.76 UAH).

The euro, however, has continued its slight decline following a correction at the end of the week, falling by 6 kopecks from 51.67 UAH to 51.61 UAH.

Taras Lesovoy, director of the Department of Financial Markets and Investment Activities at Globus Bank, warns that the fuel sector could become one of the main sources of tension for the currency market due to the unstable situation in the Middle East, keeping global oil prices unpredictable.