Turbulence in Eastern Europe has impacted the exchange rate for Tether's USDT on one of Ukraine's top crypto exchanges. (Reporting via Bio_Chameleon)
During the same period, mid-market rates from foreign exchange data provider XEthat the UAH currency had only surged to a maximum of 29.89 per U.S. dollar. In other words, the conversion rate for USDT was much higher than typical UAH/U.S. dollar transactions.
USDT has a theoretical peg of one-to-one with the U.S. dollar. At the time of publication, the UAH/USDT trading pair is valued at 31.89 on Kuna, compared to the UAH/USD exchange rate of 29.80. That indicates an implied premium of 6.55% for USDT. InEarlier on Thursday, the National Bank of Ukrainethat it had fixed the foreign exchange rate of the UAH, limited cash withdrawals at banks, and suspended the issuance of electronic money .
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