Updating the NBU exchange rate for Opencart 3 is a useful module for resource operations.

Currency fluctuations directly affect the price level in the online store. It is not recommended to alter prices manually to reflect the accurate cost of goods on time.

Imported goods prices are directly linked to foreign currency purchasing prices, so changes in the exchange rate are reflected in the price of goods in hryvnia.

 The Ocstore3x module adds an automatic update of the National Bank of Ukraine exchange rate for Opencart 3 online stores. The hryvnia is used to calculate exchange rates (UAH). Every time you enter the admin page, the NBU exchange rate is immediately updated.

Updating the NBU exchange rate for Opencart 3

 Reference Information:

In Ukraine, the devaluation of the national unit causes prices to rise for goods that:

• The exchange rate has a direct effect on things that are brought in from other countries, like cars, appliances, and household chemicals.
• The exchange rate has an indirect effect. For example, during harvesting, gasoline is used, which is made in domestic refineries. However, crude oil is imported, and its price is set in a foreign currency. This means that the price of oil indirectly affects the price of bakery products.

Unfortunately, the devaluation of the national currency raises the price of all goods and services, not just imported items, due to both direct and indirect effects. Also, when prices go up, people have less money to spend, which makes it harder for online stores to make sales when the currency is unstable.

To avoid infecting your site with viruses, the Ocstore3x platform advises against purchasing similar products on pirate sites.

We would like to remind you that the cost of modules for the Ukrainian market is much lower because the Ocstore3x platform supports Ukrainian specialists.