The National Bank of Ukraine (NBU), in the absence of currency purchases, increased its sales on the interbank market last week by $123.8 million, or 20.0%, to $742.70 million, according to statistics from the regulator on its website. The data published by the regulator during this period indicate a change in the cash currency market: while on Monday sales exceeded purchases by $6.4 million, on Tuesday purchases exceeded sales by $6.8 million, and on Thursday there was a negative balance of $40.6 million.
‘Household activity in the cash market has been declining for the third month in a row: average daily demand fell from $41 million in February to $17 million in April. This indicates a decrease in panic sentiment, market saturation and/or the exhaustion of the population’s purchasing power against the backdrop of weak economic growth. Another factor could be the spring holiday cycle, which is a traditional period for selling foreign currency savings to celebrate and finance short-term vacations,’ commented KYT Group on the situation in the cash market.
The official hryvnia exchange rate strengthened in the first half of the week from 41.75 UAH/USD to 41.4706 UAH/USD, but weakened again to 41.7091 UAH/USD by the end of the week. Despite the increase in the negative balance, the exchange rate on the cash market did not change significantly, and over the weekend, the dollar even fell by 5 kopecks. The purchase rate fell to 41.40 UAH/$1, and the sale rate fell to 41.50 UAH/$1.
According to KYT Group experts, the dollar exchange rate will remain within a narrow range.
‘Short-term outlook (2-4 weeks): the most likely movement is towards 41.20-41.80 UAH/USD with minor deviations (±20-30 kopecks). Volatility is low, speculative demand is limited. Medium term (2-4 months): a correction to 42.00-42.50 UAH/$1 is possible in the event of increased imports, accelerated inflation or a weakening of external financing,’ the company predicts.
Source: https://interfax.com.ua/news/projects/1067965.html
Following the first round of the presidential elections in Romania, held on May 4, 2025, two candidates with opposing political views advanced to the second round: far-right nationalist George Simion and pro-European Nicușor Dăn.
According to data from Romania’s Central Election Bureau, after almost all ballots were counted:
George Simion, leader of the Alliance for the Unity of Romanians (AUR) party, received 40.96% of the vote (3,862,404 voters).
Nicușor Dăn, an independent candidate and mayor of Bucharest, received 20.99% of the vote (1,979,711 voters).
The candidate from the ruling PSD-PNL-UDMR coalition, Crin Antonescu, lost to Dan towards the end of the vote count and did not make it to the second round.
The second round of elections is scheduled for May 18, 2025.
Political views of the candidates
Djordje Simion
Leader of the far-right AUR party, Simion is known for his nationalist and Eurosceptic rhetoric. His main positions include:
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Skepticism toward the EU and NATO: Criticizes EU leadership and opposes greater integration.
Opposition to military aid to Ukraine: Believes that Romania should not provide military aid to Ukraine.
Support for the idea of a Greater Romania: Advocates restoring Romania’s pre-World War II borders, including territories in Moldova and Ukraine.
Proximity to Donald Trump’s ideology: expresses support for the former US president and his policies.
Simeon has also stated his intention to include Calin Georgescu, who was previously barred from participating in the elections due to allegations of pro-Russian ties, in his government.
Nicușor Dăn
The current mayor of Bucharest, Dan positions himself as a pro-European reformer. His key positions:
Support for Romania’s membership in the EU and NATO: advocates strengthening ties with Western allies.
Fighting corruption: emphasizes the need for reforms and transparency in public administration.
Improving urban infrastructure: as mayor, he has focused on developing the urban environment and improving the quality of life for citizens.
Impact on domestic and foreign policy
The election results could significantly influence Romania’s course:
If Simion wins:
A shift away from the pro-European course and a strengthening of nationalist policies are possible.
Potential deterioration of relations with the EU and neighboring countries, especially in the context of territorial claims.
If Dan wins:
Maintaining and strengthening ties with the EU and NATO.
In March, the State Tax Service (STS) began actively monitoring money transfers to the bank accounts of Ukrainians who sell goods online. The tax authorities recorded 1.4 million transactions totaling 1.6 billion hryvnia in less than a month. Additional attention was drawn to 11,000 Ukrainians who received more than 50 transfers to their accounts. The average check for such transactions was 1,142 hryvnia.
The Tax Service recorded 1.4 million transactions totaling 1.6 billion hryvnia in less than a month, from March 1 to 20. Eleven thousand people who received more than 50 transfers in 2025 came under scrutiny.
On average, there were 127 transfers per person during this period. However, in some cases, the number of transactions per recipient reached several hundred. At the same time, the average check for such transactions was 1,142 hryvnia.
It should be noted that on March 1, 2025, the State Tax Service (STS) began actively monitoring money transfers to the bank accounts of Ukrainians who sell goods online. The new control tool — access to the RRO data accounting system — allows for the automatic identification of individuals and entrepreneurs who systematically receive funds but are not registered as entrepreneurs or do not use cash registers.
Currently, the STS has not brought such persons to justice. However, the risks for violators are serious. For example, the fine for operating without registration can range from 17,000 to 85,000 UAH with confiscation of property. Additionally, up to 200% of the value of goods or services that were sold without using a cash register.
In general, monitoring covers individuals who regularly receive funds for goods/services (especially through marketplaces or social networks) and sole proprietors who have not registered a cash register, although they are required to do so.
At the same time, the Tax Service does not take into account one-time sales of personal items through OLX or similar platforms or marketplaces.
https://opendatabot.ua/analytics/dps-personal-research
Dynamics of import of goods in January-November 2024 by the most important items in relation to the same period of 2023, %
The Kyiv School of Economics (KSE) plans to invest $10 million in the internal renovation of the Golf Club in Obolon, Kyiv, which it recently acquired for $18 million, so that the campus created on its premises meets the requirements of leading world universities, KSE President Timofey Milovanov said.
“About $10 million will go toward internal renovation, not external. Everything there needs to be demolished, and laboratories, amphitheaters, and makerspaces need to be built. … Filling the campus itself with high-quality, modern educational facilities, such as those found in top universities, will cost $10 million,” he said in an interview with Interfax-Ukraine.
According to Milovanov, KSE sent a team to MIT (Massachusetts Institute of Technology) to see what a makerspace is.
“This is where students have access to all modern robots, lasers, machine tools with software control — everything they need to make a prototype if they have an idea. All the equipment must be there, from projectors to lecture halls, and there must be access to software that costs money even for universities,” explained the KSE president.
He added that there are plans to open these makerspaces for students from other universities as well.
Milovanov recalled that the first KSE building in Kyiv, located at 3 Shpaka Street, cost $2.5 million, with another $2.5 million spent on renovations: shelter, sleeping capsules, library shelves, AI cameras that allow hybrid lectures, a security system, fire safety, modern ventilation, batteries, and generators in case of blackouts.
Some of this is already in place at the Golf Club, but it was designed for a small number of people, not the several thousand students who will be working here, added the KSE president. Among other things, he pointed to the building’s well-insulated basements, which can be used as shelters for all students and teachers.
He emphasized that he was very pleased with the purchase because the Golf Club was built to a very high standard, so the price of the deal was very attractive considering the location—$18 million for 14,500 square meters of space plus 5 hectares of land on lease.
“Even if you don’t count the land and the location near the Dnieper, that’s $1,200 per square meter! (…) But now there are no buyers. If people have $20 million, they will buy a hotel in Indonesia, not invest in Ukraine. I think this is simply a factor of the war, and we are very lucky—without the war, it would have been many times more expensive,” Milovanov believes.
According to him, in theory, the first students could use the renovated building as early as January next year, although in practice it may take longer, partly because of the existing tenants, with whom KSE would like to resolve the issue without any disputes.
“But there are two buildings at the Golf Club. One of them is empty—there are no tenants. So we are already starting demolition this week, and it may be ready sooner. That is where we will build makerspaces, amphitheaters, and other significant renovations,” said the KSE president.
He emphasized that the university will maintain the land’s sporting purpose, as stipulated in the lease agreement.
“We will do everything completely according to the law, so we will leave the golf course. Some good businessmen are already writing to us about how this can be improved. So maybe there is something in this direction,” Milovanov said.
At the same time, he said that in the future, KSE would like to expand the purpose of the land plot so that it fully corresponds to the university, so it will submit all the documents to the Kyiv City Council.
“I think it will take 5-7 years. But we have no other way, because we are an American company. Although local developers tell me: Timofey, why are you doing this? Do what you have to do, and you’ll figure it out later. But we don’t do that, we are an American company. We don’t know how to decide things like that,” he emphasized.
KSE is a private university and research center founded in 1996. It operates as a non-profit organization registered in the United States. Since 2022, KSE donors have contributed more than $150 million to humanitarian, defense, and educational projects, including the development of university infrastructure.
GOLF CLUB, INVESTMENT, KYIV SCHOOL OF ECONOMICS, RECONSTRUCTION
