The National Bank of Ukraine has set the official hryvnia to euro exchange rate for February 3, 2023 at 40.1724, which is an increase of UAH 0.3401 and the first time the rate has exceeded UAH 40. The hryvnia to dollar exchange rate has remained unchanged since July 2022 at UAH 36.5686. Since the beginning of the war in February 2022, the NBU has fixed the hryvnia exchange rate against the dollar and euro. However, the euro has been affected by the energy crisis caused by Russia's invasion of Ukraine and the strengthening of the US dollar due to strong economic growth, the Federal Reserve's actions to raise interest rates, and capital inflows. Recently, the dollar has been falling against major currencies, and the euro has risen to the level of 1.10 per dollar, driven by expectations of different rate hikes by the US Federal Reserve and the European Central Bank. Thus, the appreciation of the euro in Ukraine is solely related to the trend in global markets.