National Bank of Ukraine launches consultation on money and foreign exchange market indicator rules including a noon hryvnia to euro reference rate

The National Bank of Ukraine has released for public discussion draft regulatory changes on the definition and publication of money and foreign exchange market indicators. The package would introduce a new reference hryvnia to euro exchange rate as of 12:00 PM, revise the methodology for calculating the official hryvnia exchange rate against foreign currencies other than the U.S. dollar and the accounting price of investment metals, and establish a regulatory document that defines foreign exchange market indicators. The proposals also expand daily disclosure around benchmark calculations. For the Ukrainian Overnight Index Average, the draft decision would publish the base range of transactions used in the calculation, the minimum and maximum rates for the normalized transaction set, and whether the calculation was made under normal or special conditions. For foreign exchange indicators, the draft resolution would publish the normalized transaction set used to calculate the official and reference hryvnia to U.S. dollar rates, the minimum and maximum rates for the underlying base series, and the calculation type. The National Bank of Ukraine said the changes are intended to improve the transparency, reliability and representativeness of these indicators and align its practices with international best practice and IOSCO principles. Comments on the proposals are being accepted until 03 June 2026.