The prices of airline tickets in Ukraine increased by 30% over one night as a result of fluctuations of IATA exchange rates against the dollar, the post on the website avianews.com says.
The hryvnia rate affecting the cost of air tickets rose from 17.1 hryvnias for one dollar on February 5, up to 22.2 hryvnias per dollar on February 6.
Given that the cost of airfares depends on the hryvnia value, and is calculated, each time anew, at the IATA rates of exchange, so, a drop in hryvnia immediately raised the price of airline tickets.
The IATA exchange rates interconnected with those in the interbank market, in its turn, cannot differ from the NBU’s indicative rates. Thus, the actual exchange rate was unlike, with an approximate gap of 30%; teherfore, banks imposed fees and used other tricks to cover ensuing shortage of money.
After the NBU refused from the indicative rate on February 5, market participants began to set actual exchange rates that entailed an increase in dollar value from 17 hryvnias up to 22 hryvnias during a day.
