The National Bank of Ukraine (NBU) responded to high demand for foreign currency and sold about $350 million in the interbank foreign exchange market on March 11, the central bank’s press service reported on Facebook. “As before, we believe that the deterioration of sentiment in the financial markets is caused more by a psychological factor,…
As of March 1, funds accumulated by the Deposit Guarantee Fund of Ukraine amounted to UAH 11.26 billion, according to the fund’s press service. “The total amount of funds accumulated by the Fund as of March 1, made up UAH 11,256.7 million. In January-February, revenues to the Fund from regular fees totaled UAH 1,005.8 million,”…
The banking sector of Ukraine is currently high earning and profitable and, therefore, sufficiently resilient to any macroeconomic surprises. “The banking system is much better today than during the 2008 or the 2014 crises, and it is now more prepared for macroeconomic surprises,” Olena Korobkova, Executive Director of the Independent Association of the Banks of…
In February, consumer prices in Ukraine decreased by 0.3% MoM, according to the State Statistics Service. “Consumer prices in February decreased by 0.3% compared to January and by 0.1% since the beginning of the year. Core inflation in February made up 0.1% compared to January and 0.3% since the beginning of the year,” reads the…
Fitch Ratings in its latest outlook expects Ukrainian economy to grow by 3.5% in 2020 from 3.2% in 2019. In 2021, it could grow by 3.8%, supported by private consumption and investment. Fitch considers that growth and investment prospects depend on the adequate and timely implementation of reforms to address constrains such as the rule…
Analyst with the Alpari investment company, Maksym Parkhomenko, warns that the hryvnia, Ukraine’s national currency, may considerably weaken against the U.S. dollar by this weekend. The expert says that, if panic worsens on the market, Ukrainians will be buying dollars at UAH 26. At the same time, Parkhomenko emphasized that the hryvnia should not tumble…
Ukraine’s international reserves grew by $0.3 billion in February, to $26.6 billion, the press service of the National Bank of Ukraine (NBU) reported. “As of March 1, Ukraine’s international reserves, according to tentative data, amounted to $26.623 billion (in equivalent). In February, they increased by 1.3%. An increase in international reserves in February was caused,…