Sharp Surge in Dollar and Euro Exchange Rates Recorded on May 28

Currency Rates and Economic Landscape in Ukraine as of May 28, 2026

According to Главком: On the morning of May 28, 2026, the National Bank of Ukraine (NBU) released updated official exchange rates. The US dollar climbed to 44.29 hryvnias, the euro rose to 51.54 hryvnias, while the Polish zloty weakened to 12.16 hryvnias. Additionally, the NBU set the rate for the British pound at 59.5054 hryvnias and the Swiss franc at 56.3178 hryvnias.

The NBU board decided to maintain the key policy rate at 15%. Inflation, which had been steadily declining from June 2025 through January 2026, began to rise again after that period. Price pressures intensified due to a challenging energy situation, particularly following Russian strikes, as well as a sharp increase in fuel costs amid the conflict in the Middle East. Furthermore, inflation was fueled by the lagged effects of the hryvnia's earlier depreciation and a rapid surge in wages.

Vitaliy Shapran commented that 'the dollar cannot remain weak against the euro forever, and once a final trade agreement is signed between the US and the EU, the market will return to normal.'

The NBU also announced plans to conduct an operation exchanging non-cash currency for cash. As of 8:30 AM on May 28, 2026, exchange rates at various banks were as follows:

• Oschadbank: USD 44.00/44.45; EUR 51.40/51.90
• Privatbank: USD 44/44.44; EUR 51.21/51.81; GBP 58.85/59.88; PLN 12.03/12.19
• PUMB: USD 44.00/44.60; EUR 51.30/52.00; GBP 58.80/60.20; PLN 11.95/12.25
• monobank: USD 44.04/44.43; EUR 51.23/52
• Raiffeisen: USD 44.04/44.49; EUR 51.20/51.85; GBP 57.30/60.70; PLN 11.50/12.50; CHF 53.50/57.50
• OTP Bank: USD 43.75/44.40; EUR 51.00/51.95; CHF 56/56.95
• Ukrsibbank: USD 43.95/44.50; EUR 51.00/51.90; GBP 58/60.35; CHF 55.10/57.10

Overall, the currency market continues to experience fluctuations driven by various economic factors.

The rise of the dollar and euro underscores ongoing pressure on the hryvnia, which could impact consumer prices and economic stability. Keeping the key rate at 15% reflects the NBU's efforts to curb inflation amid rising costs, especially due to external factors. Market reactions to exchange rate shifts and the potential revival of trade with the US and EU are likely to be key determinants of Ukraine's economic trajectory.