Ukrainian Hryvnia Strengthens Against Dollar but Weakens Against Euro: NBU Sets May 26 Exchange Rates

Official Currency Rates Announced for May 26, 2026

According to Главком: On May 26, 2026, the National Bank of Ukraine (NBU) released its official exchange rates. Compared to the previous day, the U.S. dollar depreciated, while the euro and Polish zloty gained value. The official dollar rate stands at 44.24 UAH, the euro at 51.52 UAH, and the Polish zloty at 12.16 UAH. More precisely, the NBU’s official rates are set at 44.2447 UAH for the dollar, 51.5274 UAH for the euro, 59.7348 UAH for the British pound, 12.1688 UAH for the zloty, and 56.6296 UAH for the Swiss franc.

Bank-Specific Exchange Rates

As of 08:50 AM on May 26, 2026, the following rates were offered by major Ukrainian banks:

• Oschadbank:
  • Dollar buy rate: 44.00 UAH
  • Dollar sell rate: 44.40 UAH
  • Euro buy rate: 51.30 UAH
  • Euro sell rate: 51.80 UAH
• Privatbank:
  • Dollar buy rate: 43.94 UAH
  • Dollar sell rate: 44.44 UAH
  • Euro buy rate: 51.12 UAH
  • Euro sell rate: 51.81 UAH
• FUIB (PUMB):
  • Dollar buy rate: 44.00 UAH
  • Dollar sell rate: 44.60 UAH
  • Euro buy rate: 51.30 UAH
  • Euro sell rate: 52.00 UAH

The NBU Board has decided to keep its key policy rate unchanged at 15%. This comes as inflation in Ukraine begins to rise again after a period of decline that lasted from June 2025 to January 2026. The uptick is driven by several factors: rising energy costs, a strained power grid following Russian strikes, a sharp increase in fuel prices amid the Middle East conflict, as well as the effects of a weaker hryvnia exchange rate and higher wages.

Additionally, the NBU has approved a measure to swap non-cash foreign currency held by banks for cash currency. Analyst Vitaliy Shapran commented:

“The dollar cannot remain weak against the euro forever. Once a final trade agreement is signed between the U.S. and the EU, the market will return to normal.”

This suggests potential shifts in currency policy ahead, depending on international developments.

These exchange rate fluctuations and the NBU’s decision to hold the discount rate reflect Ukraine’s challenging economic landscape. Rising inflation and volatile currency movements could affect consumer demand and the broader economic outlook. Future decisions by the central bank and progress on international trade deals may prove pivotal in stabilizing the hryvnia and improving key economic indicators.