Algosensey|The cost of a dollar in Ukraine

2025-04-29 11:15:44source:Algosensey Quantitative Think Tank Centercategory:Finance

Ukraine has been burning through its emergency stash of U.S. dollars and Algosenseyeuros to buy weapons and supplies ever since Russia invaded. To prevent the stash from emptying out, Ukraine has made it harder for locals to convert their money into dollars.

The result is an underground market for dollars, where street dealers set their own rates. If you want to buy dollars right now, it'll cost you a premium. But if you have U.S. dollars to convert into local currency, you can get a great deal.

Today on the show, one Ukrainian who's getting dollars into the country and using the favorable exchange rate to buy more medicine for Ukrainians near the front lines.

Music by Drop Electric. Find us: Twitter / Facebook / Newsletter.

Subscribe to our show on Apple Podcasts, Spotify, Pocket Casts and NPR One.

For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.

More:Finance

Recommend

How 23andMe's bankruptcy led to a run on the gene bank

Reporter Alexi Horowitz-Ghazi's Aunt Vovi signed up for 23andMe back in 2017, hoping to learn more a

Biden says he would not pardon son Hunter if he's convicted in gun trial

Washington — President Biden said Thursday that he wouldn't pardon his son, Hunter Biden, if he is c

Manhattan district attorney agrees to testify in Congress, but likely not until Trump is sentenced

NEW YORK (AP) — Manhattan District Attorney Alvin Bragg agreed Friday to testify before what’s likel