Historical growth: the euro costs almost 50 hryvnias in exchange offices

On July 2, 2025, the euro exchange rate on the Ukrainian foreign exchange market set a new historical maximum. According to the National Bank of Ukraine, the official euro exchange rate has already reached UAH 49.85/euro, and banks are selling euros at UAH 49.70, which is a record high in history.

This is stated on the website of the Ministry of Finance.

This rapid increase reflects a record fall of the hryvnia against the European currency and is the most significant fluctuation in the euro exchange rate in recent years. The main reasons for the record rise in the euro are considered to be:

– increase in rates at the European Central Bank and strengthening of the euro on global markets

– active imports and increased demand for currency in Ukraine, especially in the defense sector and during the summer procurement period

– speculative activity on the interbank market, which increases pressure on the hryvnia

At the same time, the US dollar exchange rate remains relatively stable — around 41.50 UAH/$, which emphasizes the particular weakness of the hryvnia against the euro.

The record high euro exchange rate directly affects the cost of imported goods in Ukraine – this applies to cars, equipment, medicines and food products. The increase in the value of the currency can lead to increased inflation and complicate financial calculations for businesses.

Analysts warn that the euro exchange rate may remain at record high levels in the coming weeks unless external economic factors change or the National Bank intervenes.

Recall that on June 30, the hryvnia exchange rate slightly decreased against the dollar and once again reached a historical low against the euro at exchange offices.

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