National Bank of Ukraine

The National Bank of Ukraine has set the official hryvnia exchange rate at 39. 2966 UAH/USD, strengthening the hryvnia by 6 kopecks.

The National Bank of Ukraine expects currency liberalization to cost Ukraine about $5-5. 5 billion, but considers it a productive investment to facilitate capital flows and economic recovery.

The NBU expects businesses to use the opportunities of currency liberalization responsibly by returning export earnings to Ukraine rather than keeping them abroad.

In 2023, the Ukrainian government implemented the state budget under martial law, but did not allocate all possible resources to finance measures to repel Russia's armed aggression and eliminate its consequences, according to the analysis of the Accounting Chamber.

Ukraine's international reserves decreased by 3. 1% to $42.4 billion in April due to the NBU's foreign exchange interventions and foreign currency debt repayments, partially offset by inflows from international partners.

The former head of the State Agency of Forest Resources of Ukraine, according to investigators, received over UAH 141 million in bribes from foreign companies for prolonging timber supply contracts between 2011 and 2014, and the case has been sent to court.

15 thousand entrepreneurs have received grants under the eRobota program in Ukraine, supporting new businesses and creating thousands of new jobs, contributing to the gradual economic recovery and improving business activity.

The National Bank of Ukraine strengthened the hryvnia by 24 kopecks, setting the official exchange rate at 39. 3969 UAH/USD.

The NBU introduced the largest package of currency restrictions since the beginning of the full-scale war, allowing businesses to enter new markets, repatriate dividends, transfer funds abroad under leasing/rental agreements, repay foreign loans and interest on them, and ease restrictions on representative offices, which aims to improve the business environment, support economic recovery and facilitate new investments.

Ukraine's economic growth slowed in Q1 2024 due to budget cuts and the border blockade, but the stabilization of the sea corridor and rising domestic demand supported the economy.

The recovery of Ukraine's labor market after the full-scale invasion will depend on the return of migrants, the inclusion of veterans and people with disabilities in civilian life, and the increased participation of these groups, supported by government and business adaptation and retraining measures to overcome labor shortages and stimulate a rapid economic recovery.

The National Bank of Ukraine has prohibited banks and non-bank financial institutions from accepting dual-use goods that can be used for military purposes as collateral to ensure the security and stability of the banking system during martial law.

Ukraine is expected to gradually bring utility tariffs to market levels over several years, but the timing and extent of the adjustment remains uncertain.

In the short term, raw foods will remain cheaper than last year, but prices will rise in the second half of 2024 on the back of lower harvest expectations, while prices for processed foods will also accelerate slightly.

The Cabinet of Ministers approved the creation of a subgroup to work on the confiscation of frozen Russian sovereign assets abroad in favor of Ukraine.

The National Bank of Ukraine has strengthened the official exchange rate of the hryvnia against the dollar to UAH 39. 5345/USD and weakened it against the euro to UAH 42.3098/€.

The situation in the foreign exchange market is now under control, and Ukraine has successfully transitioned to a managed floating exchange rate regime without shocks, NBU Governor Andriy Pyshny said. The uncertainty that exists, according to the head of the National Bank, is related to security risks, and the war is a key factor that generates risks.

Since the beginning of the year, Ukraine has attracted more than $12 billion in financial assistance, including a record $9 billion in March and €1. 5 billion in April under the Extended Fund Facility for Ukraine.

Time deposits in Ukrainian banks grew by almost 30%, with 97% of them being long-term deposits of more than 3 months, which provides resources for lending development.

The Governor of the National Bank of Ukraine said that the situation on the foreign exchange market is under control, and security risks have decreased after the US Congress provided financial support.

Ukraine needs the legal basis and political will to access $300 billion in frozen Russian assets to finance its defense and recovery from the Russian invasion.

In 2023, foreign investors invested $4. 25 billion in Ukraine's economy, which is more than in 2016-2017, but only half of the level of 2022.

The National Bank of Ukraine devalued the hryvnia by 12 kopecks, setting the official exchange rate at 39. 6370 UAH/USD.

The Cabinet of Ministers has reduced the maximum loan amount for working capital to UAH 5 million under the program "Affordable Loans 5-7-9%", while leaving the limits for investment purposes unchanged.

For the second month in a row, the business has been positive about its performance, having adapted to the war, supported by international financing, improved logistics, growing demand and lower inflation, despite damaged infrastructure, high logistics costs and wages, and a shortage of skilled workers.

The National Bank of Ukraine has set the official hryvnia exchange rate at 39. 5151 UAH/USD, strengthening the hryvnia by 15 kopecks against the US dollar.

More than 23,000 law enforcement officers will be deployed to ensure law and order during Easter celebrations across Ukraine, and more than 10 million believers are expected to attend services in 13,000 places of worship.

The National Bank of Ukraine has set the official hryvnia exchange rate at 39. 6015 UAH/USD, strengthening the hryvnia by 7 kopecks.

The National Bank of Ukraine has issued a commemorative 5-hryvnia coin "Chornobyl. Revival. Black Stork", dedicated to the 38th anniversary of the Chornobyl disaster and the revival of wildlife in the Chornobyl reserve.

The National Bank of Ukraine devalued the hryvnia by 20 kopecks, setting the official exchange rate at 39. 6702 UAH/USD.