Ukraine will replace the exchange rate-forming currency: explanation from the National Bank

The main exchange rate-forming currency in Ukraine is the US dollar, but in the future it will be replaced by the euro.

This was stated by the First Deputy Governor of the National Bank, Kateryna Rozhkova, in a comment to the TV channel "We-Ukraine".

As the official noted, since Ukraine aspires to become part of the European Union, it needs to be pegged to the currency in which most transactions are carried out. According to her, the euro will play a key role in the country's foreign exchange market.

At the same time, Rozhkova noted that switching from the dollar to the euro during a period of war-related challenges, which in themselves are already a shock to the economy, would not be the best time for this. The Deputy Head of the NBU assured that any changes would occur slowly and very imperceptibly for the market.

"We will avoid any shocks, so there is no need to worry if this happens", she added.

According to the official, changing the exchange rate-forming currency will benefit the Ukrainian economy.