The National Bank of Ukraine (NBU) has approved a noon hryvnia to euro reference exchange rate, revised calculations for other official exchange rates and expanded disclosures for foreign exchange and money market benchmarks. The changes finalize proposals consulted on in May–June 2026. The new euro benchmark and revised calculation rules take effect on 4 November 2026. The euro reference rate will combine the noon reference hryvnia to U.S. dollar rate with average half-hourly BFIX USD/EUR quotations from 10:30 a.m. to noon Kyiv time. It will provide a guide for pricing transactions between banks and customers and facilitate settlement of euro forward contracts. Official exchange rates for currencies other than the U.S. dollar and for special drawing rights, alongside accounting prices for investment metals, will use the official hryvnia to U.S. dollar rate and average half-hourly BFIX quotations from 10:30 a.m. to 3 p.m. Kyiv time. Expanded daily disclosures begin on 1 February 2027 for the official and reference hryvnia to U.S. dollar rates and the Ukrainian Overnight Index Average (UONIA). The currency benchmarks will disclose transaction counts and volumes for the normalized transaction set and minimum and maximum exchange rates for the base transaction range. UONIA will publish counts, volumes and rate extremes for its base transaction range. All three indicators will identify whether calculations used normal or special conditions.
National Bank of Ukraine introduces noon hryvnia to euro reference rate and expands benchmark disclosures
The National Bank of Ukraine has approved a noon hryvnia to euro reference rate and revised calculations for other official exchange rates and investment metal prices, effective 4 November 2026. The euro benchmark will guide customer pricing and support forward settlements. Expanded daily transaction and calculation disclosures for key foreign exchange benchmarks and the Ukrainian Overnight Index Average begin on 1 February 2027.