The National Bank announced that it would return to floating exchange rates and to the use of the discount rate as the main instrument of monetary policy as the functioning of the economy and the financial system normalize. This is stated in the monthly macroeconomic and monetary review of the NBU..

The National Bank noted that administrative restrictions on the foreign exchange market, as well as fixing the discount rate, are temporary measures.

Thus, if it is possible to restore the ability of the foreign exchange market to self-balancing, the NBU will ease restrictions and gradually return to floating exchange rate formation.

As uncertainty decreases and the effectiveness of monetary transmission channels strengthens, the NBU will resume the forecast cycle and return to using the key rate as the main monetary instrument.

Recall, on February 24, the NBU fixed the dollar exchange rate at UAH 29.25. However, already in early April, the official hryvnia exchange rate, fixed by the National Bank for the duration of the war, almost did not differ from the exchange rate of the "