Last week, the National Bank of Ukraine (NBU) reduced sales of dollars on the interbank market by $21.7 million, or 3.8%, to $551.3 million, which is the same as the week before last, according to statistics on the regulator’s website.
According to the NBU, in the first four days of last week, the average daily negative balance of buying and selling foreign currency by legal entities rose to $78.9 million from $65.6 million in the same period a week earlier and totaled $315.8 million.
The negative balance on the FX market for households also increased to $68.2 million from $44.3 million the week before, although it was declining over the course of the week, from $25.7 million on Monday to $14.0 million on Thursday.
This result was partly due to the high volume of non-cash foreign currency purchases on September 1, which amounted to $32.9 million.
The NBU started publishing weekend foreign exchange statistics separately, whereas previously it combined them with Monday data.
The official hryvnia exchange rate against the dollar weakened from 41.3203 UAH/$1 to 41.3722 UAH/$1 early last week, but on Friday the National Bank strengthened the national currency to 41.2199 UAH/$1. The last time the hryvnia was so expensive was in the third decade of August, and before that – in April of this year.
On the cash market, the dollar also fell by about 6-8 kopecks over the past week: buying to 41.21 UAH/$1, and selling to about 41.30 UAH/$1.
“Domestic demand remains restrained: importers are working as planned, the population is mainly focused on the euro, and the NBU is maintaining the balance without sharp movements. The general characteristic of market behavior is a smooth decline (of the dollar to hryvnia exchange rate) without sharp impulses,” experts of KYT Group, a major participant in the cash foreign exchange market, said.
They added that the spread between buying and selling is stable in a narrow corridor of UAH 0.40-0.50, and market rates remain equidistant from the official one. This indicates a lack of nervousness and support for the “exchange rate consensus” between the market and the regulator.
According to KYT Group’s short-term forecast for the period until mid-September, the exchange rate will remain in the basic range of UAH 41.20-41.70/$1, while the medium-term forecast for 2-3 months envisages a range of UAH 41.50-42.20/$1.
“The Fed’s likely September decision could give momentum in either direction: if the rate is cut, the hryvnia could strengthen in the short term and the dollar could fall to the lower boundary; if it is maintained, quotes will remain closer to the upper boundary,” experts say.
In the long term (6+ months), they maintain the scenario of a smooth devaluation: the expected benchmark is 43.00-44.50 UAH/$1, provided that foreign aid is stable and the NBU’s policy is controlled.
A meeting of the joint Uzbek-Moldovan Commission on Road Transport was held in Kyzylanav.
The delegations of the Ministry of Transport of Uzbekistan and the Ministry of Transport and Road Infrastructure of Moldova discussed the development of international road freight transportation and the creation of additional conditions for national carriers.
Following the meeting, a protocol was signed amending existing agreements. The document stipulates that starting from the beginning of 2026, bilateral and transit cargo transportation between the two countries will be carried out under a non-permitted system.
The agreement will create new opportunities for national carriers, simplify the transportation of goods to Europe and strengthen Uzbekistan’s export chains.
The main goal of reforming the Repair and Production division at Ukrzaliznytsia JSC is to optimize the business, increase its efficiency, and make it profitable, said Yevhen Shramko, member of the company’s board and head of the division, in an exclusive interview with Interfax-Ukraine.
According to him, the transformation involves consolidating assets, attracting international partners, and implementing projects based on excess capacity through leasing, public-private partnerships, or repurposing.
“Where there is potential, we will strengthen it; where necessary, we will remove the excess. We must find the optimal scale and ensure long-term efficiency,” Shramko emphasized.
In 2024, Ukraine supplied 85,800 tons of honey to foreign markets and ranked third in the world in terms of export volume, according to the Ukrainian Agribusiness Club (UAC). According to the association, the top 5 global exporters by volume in 2024 were as follows: China — 169,600 tons; India — 94,800 tons; Ukraine — 85,800 tons; Argentina — 78,100 tons; Vietnam — 48.2 thousand tons.
The European Commission (Trade Data Monitor, preliminary data for January–June 2024) also lists China, India, Ukraine, and Argentina among the leading honey exporters by tonnage.
Top 20 exporters by value of shipments in 2024 (HS 0409)
(in brackets — share in world exports; methodology — FOB value)
1) China — $264.9 million (11.5%);
2) New Zealand — $250.7 million (10.9%);
3) India — $182.6 million (7.9%);
4) Argentina — $170.3 million (7.4%); 5
5) Ukraine — $166.9 million (7.2%);
6) Germany — $110.3 million;
7) Spain — $103.2 million;
8) Brazil — $100.6 million;
9) Hungary — $85.3 million;
10) Belgium — $79.7 million;
11) Vietnam — $68.5 million;
12) Mexico — $47.5 million;
13) Canada — $45.2 million;
14) Australia — $45.0 million;
15) Romania — $40.6 million;
16) Bulgaria — $38.0 million;
17) Poland — $37.6 million;
18) Turkey – $32.6 million;
19) Netherlands – $31.3 million;
20) Greece – $28.6 million.
Rankings by value and volume differ (for example, New Zealand ranks high in terms of value due to expensive varieties, but is not among the top countries in terms of tonnage). Data on value — according to World’s Top Exports (based on UN/ITC Trade Map) for 2024; data on volume of the top 5 — according to UACB/Trade Data Monitor.
Where Ukraine sells
The largest buyers of Ukrainian honey in 2024: Germany — 18.9 thousand tons; USA — 12.1 thousand tons; Poland — 9.7 thousand tons; France — 9.6 thousand tons; Belgium — 7.1 thousand tons. Deliveries were also made to Turkey, Great Britain, Japan, Switzerland, Canada, Qatar, Jordan, etc. (UACB).
From 2025, the EU will again apply quotas on duty-free imports of Ukrainian honey. UACB notes that the new volumes are higher than before and support competitiveness, but do not cover the entire export potential of the industry.
From March 1, 2026, a new system will come into force in Georgia: foreign workers and self-employed persons will need an official work permit.
Previously, the country did not have a full-fledged work permit regime and in most cases allowed foreigners to work without a separate permit, according to industry sources.
According to the business press, there will be a transition period for foreigners already employed in Georgia: they must obtain a permit before January 1, 2027; fines will be imposed on both the employee and the employer for violations (with increased penalties for repeat offenses).
The aim of the reform is to bring order to the labor market, put an end to work on tourist visas, and bring regulation closer to international practice. Additionally, it is reported that the details of the procedure (categories, exceptions, lists of documents) will be specified in subordinate government acts.
In 2024, 135,800 immigrants entered Georgia (–34% y/y), while 121,400 emigrants left the country; 48.2% of immigrants are Georgian citizens, the rest are foreigners. Among foreign citizens, the top countries were Russia, Ukraine, Turkey, India, and Azerbaijan.
Officially, in 2022, 62,300 Russians were registered as immigrants (i.e., they remained to live in the country). In 2023, there were 52,600 Russian citizens among immigrants.
According to media reports and think tanks, in 2025, there will be about 100,000 Russians living in the country (estimates vary widely, taking into account the outflow in 2023). At the same time, only about 20% of them have “tax resident”/official resident status, according to the National Bank of Georgia.
According to the UN, since the start of the full-scale war, approximately 245,000 Ukrainians have passed through Georgia; about 26,600 currently reside in the country (estimate for spring 2025).
Among the largest sources of migration in 2023 are Turkey (≈8,600 immigrants), India (≈8,400), and Belarus (≈3,600); Ukraine provided ≈7,500 immigrants in 2023. These figures show the annual inflow, not the “stock” of permanent residents.
The labor market reform complements earlier changes in migration regulation (e.g., an increase in the minimum property value for a “residence permit by purchase” from $100,000 to $150,000 as of March 1, 2026).
Experts expect that the unification of employment rules will increase the transparency of hiring foreigners and reduce informal employment, but will increase the administrative burden on businesses during the adaptation period.
https://t.me/relocationrs/1390
China’s foreign exchange reserves, the world’s largest, increased by $29.9 billion (0.9%) in August compared to the previous month and amounted to $3.322 trillion, the People’s Bank of China said in a statement. That’s the most since December 2015.
The yuan appreciated 0.9% against the U.S. currency last month. Meanwhile, the U.S. dollar fell 2.2% against a basket of major world currencies.
Gold reserves stood at 74.02 million ounces at the end of August, up from 73.96 million ounces a month earlier. The Chinese Central Bank bought precious metal for the tenth month in a row. In value terms, gold reserves reached $253.84 billion against $243.99 billion at the end of July.
The Chinese economy continues to maintain stable growth, showing resilience and vitality, which helps to keep the country’s foreign exchange reserves at a stable level, said the State Administration of Foreign Exchange Control of the People’s Republic of China.
