The National Bank of Ukraine has published findings from the Oversight Council’s sixth periodic review of its money and foreign exchange market indicators. The review confirms that the Ukrainian Overnight Index Average remains an objective money market indicator despite methodological limitations, while the official and reference UAH/USD exchange rates continue to meet market needs and require no changes to their calculation or publication procedures. The National Bank of Ukraine is working with an expert from the Swiss State Secretariat for Economic Affairs on potential improvements to the UONIA methodology. Foreign exchange trading volumes remain sufficient to support reliable UAH/USD indicators and have continued to rise alongside economic activity. UAH/EUR transactions are also increasing more slowly, particularly in household deposits and cash transactions. Work remains underway to introduce a noon UAH/EUR reference rate and revise the methodology for official exchange rates against currencies other than the U.S. dollar, continuing proposals discussed earlier in 2026.
National Bank of Ukraine review confirms no UAH/USD methodology changes are needed and identifies further UONIA work
The National Bank of Ukraine’s latest review confirms that UONIA remains an objective indicator but requires further methodological work. UAH/USD benchmarks remain reliable and need no changes, while implementation continues on a noon UAH/EUR reference rate and revised methodologies for other official exchange rates.