The share of households’ exchange transactions with the US dollar ($) decreased to 74.1% last year from 78.7% in 2023, while for the euro (EUR), Polish zloty (PLN) and British pound (£) – increased, according to an analysis by analysts at currency exchange market operator KYT Group, based on data from 100 branches in 30 of Ukraine’s largest population centers.
“Despite everything the US dollar remains the dominant currency of operations, but its share has decreased, which may indicate the strengthening of the role of the euro and other currencies in the foreign exchange market,” – commented the received data analysts of ‘KYT Group’ in the currency review.
But the share of transactions with the euro has grown from 20.8% in 2023 to 25.15% in 2024. According to analysts, such dynamics may be a consequence of the large emigration of economically active Ukrainians to the eurozone countries, more lively foreign trade with the EU countries, changes in payment preferences of business, or diversification of savings of the population.
According to the above data, the number of transactions with the Polish zloty increased more than one and a half times last year: up to 0.56% from 0.36% in 2023, which KYT experts attribute to the activity of labor migrants, deepening business ties between the countries and, accordingly, the growth of financial flows between Ukraine and Poland.
The share of exchange transactions with the British pound in 2024 has almost doubled: up to 0.15% from 0.08% in 2023. Analysts believe that such a “jump” of the indicator, despite maintaining a low overall share in the section of cash transactions, may indicate the expansion of economic ties between Ukraine and the UK, an increase in cross-border transactions and strong confidence in British financial instruments.
“The decreasing share of the dollar in foreign exchange transactions does not mean its loss of its status as a key reserve currency in Ukraine. High liquidity of the dollar, stability and its global status continue to make it the main instrument for capital preservation”, – note analysts of ‘KYT’, they assume that the current changes may be a consequence of attempts of business and population to diversify currency assets.
“It is especially relevant against the background of changes in the monetary policy of the United States and the European Central Bank. If the ECB continues its easing policy, the hryvnia’s exchange rate against the euro may be more stable than against the dollar,” they point out.
In this context, the experts also reminded about the announced by the National Bank of Ukraine (NBU) possible change of the peg of the official exchange rate of the hryvnia to the euro, instead of the dollar, as part of the aspiration to join the eurozone in the future.
“The financial behavior and currency preferences of Ukrainians are changing in line with external economic conditions. If the trend continues, the euro may continue to build its share of the cash market, while the zloty will remain an important currency for private and business transactions,” the analysts summarized.
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In January 2025, Ukraine exported 5 million tons of agricultural products, which is 9.7% less than the same indicator of the previous month, according to the Ukrainian Agribusiness Club (UCAB).
“For the third month, there has been a downward trend, but this is typical for the winter period in the absence of force majeure,” analysts explained.
Speaking about the structure of exports in January 2025, they noted that the exports of grains decreased by 3% to 3.5 mln tonnes (corn – 72%, wheat – 26%, barley – 2%) compared to December 2024, oilseeds – by 39% to 352 thsd tonnes. tons (soybeans – 63%, rapeseed – 29% and sunflower seeds – 6%), cake after extraction of vegetable oils – by 22% to 406.3 thsd tonnes (sunflower – 67%, soybean – 33%), other agricultural products – by 24% to 329.5 thsd tonnes.
At the same time, the export of vegetable oils increased by 1% compared to December 2024, to 424.4 thsd tonnes (sunflower oil – 89% and soybean oil – 10%).
The analysts noted that the export volumes of grains and vegetable oils remained approximately at the level of the previous month. Oilseeds (-39%) and oilcakes after extraction of vegetable oils (-22%) showed the decline.
“In the current marketing year, the vast majority of agricultural products intended for export have already been exported, in particular, wheat – 64%, corn – 55%. Accordingly, in the coming months, a further slight reduction in export shipments is possible,” UCAB predicts.
In 2024, the Export Credit Agency (ECA) supported 69 exporters by insuring their foreign trade agreements, loans for the execution of such agreements, and investment loans for UAH 1 billion, according to the agency’s website.
Thus, the supported exports amounted to UAH 7.53 billion, and one hryvnia of ECA’s liability brought UAH 7.52 of future export revenue.
ECA’s clients operate in 19 regions of Ukraine, among which the leaders in terms of exports were: Kyiv (UAH 3.8 billion of export revenue), Lviv region (UAH 1.25 billion) and Vinnytsia region (UAH 703 million).
Nine banks are helping exporters, together with the ECA, to safely expand their business geography. Ukrgasbank financed UGB the most – UAH 374.67 million (UAH 2.9 billion of supported exports), Oschadbank – UAH 208 million (UAH 629 million), and FUIB – UAH 131 million of loans (UAH 1.78 billion of supported exports).
The ECA also reports that during the year it introduced new products to protect investors from military risks and concluded the first such agreements, supporting UAH 137.6 million of investments.
The ECA also insured a bank guarantee for the performance of work by a Ukrainian contractor in Poland for the first time.
In 2024, ECA became a full member of the Berne Union, an international organization that brings together export credit agencies and promotes international trade.
“This opens up new opportunities for cooperation with international partners and raising our export risk insurance standards and improving insurance products,” the agency explained.
In cooperation with the World Bank, ECA developed a draft five-year strategy for the company and adopted it, which was one of Ukraine’s commitments to the IMF. The task was completed five months ahead of schedule.
In addition, ECA was the first state-owned company to approve its strategy by a decision of the Supervisory Board in accordance with updated corporate governance standards.
The report also notes that in 2025, the main tasks of the ESA will be, in particular, to expand the possibilities of insuring foreign trade contracts, increase the volume of support for foreign economic contracts, and the amount of investment finance insurance. Another priority will be the launch of a loan insurance compensation program aimed at supporting small and medium-sized businesses. The actual reduction in the cost of insurance will contribute to an increase in the number of exporters who want to receive additional protection for their business, explains ECA. And by addressing the lack of capital, ECA will be able to support more businesses and implement larger projects.
Electricity imports in January 2025 decreased by 63.2% to 159.09 thousand MWh compared to December 2024, while exports increased 9 times to 63.4 thousand MWh, according to the Energy Map portal.
Thus, according to the calculations of the Energoreforma Internet portal, based on these data, electricity imports in January 2025 exceeded exports by 2.5 times.
Most of the electricity was imported in January from Poland – 50.78 thousand MWh (31.92% of the total). This was followed by Slovakia – 42.46 thousand MWh (26.69%), Hungary – 41.2 thousand MWh (25.9%), Romania – 23.38 thousand MWh (14.7%), and Moldova – 1.26 thousand MWh (0.79%).
In terms of exports in January, Moldova ranks first – 27.14 thousand MWh (42.81%) were supplied there. Hungary exported 21.12 thousand MWh (33.31%), Romania – 8.18 thousand MWh (12.9%), Slovakia – 6.27 thousand MWh (9.89%), Poland – 0.68 thousand MWh (1.08%).
As reported, electricity imports in December 2024 increased by 2.7 times compared to November – up to 433.4 thousand MWh, while exports decreased by 6.1 times – to 6.8 thousand MWh.
“In 2024, Ukraine imported 4436.6 thousand MWh of electricity, which was the highest figure for the last 11 years (actual data before 2014 are not publicly available). At the same time, electricity exports reached a historic low of 348.5 thousand MWh,” says the annual review provided to the Energoreforma project by DiXi Group, a Ukrainian energy and climate think tank.
In today’s digital world, a business presence on the Internet is not just an advantage, but a necessity. One of the most effective ways to increase brand awareness, attract new customers, and build trust in the company is to post information on Vidguky.net. Why is it important? Let’s take a look at the main reasons.
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JSC “OTP BANK” offers its customers the opportunity to take out a loan for an electric car of any brand, both new and used, guaranteeing transparency and simplicity of conditions and an individual approach to each borrower. This was stated by Vitaliy Skorobohatyi, Head of Car Lending Development Department of OTP Bank.
“With the support of the Bank, the path to the coveted electric car can be as quick and easy as possible. We are convinced that the purchase of an electric car with financing is a profitable solution that will allow the client to use modern environmentally friendly transport today, without putting off life for later. New or used car, brand, specifications, and condition – everyone is looking for the perfect match. We will help you choose the best option according to your budget and needs. You can get the money for the car within one day,” said Skorobohatyi.
The electric car market is developing rapidly. According to experts from the Automotive Market Research Institute, more than 3,000 imported used cars are sold in Ukraine every month on average, about 2,000 units are sold through domestic resale, and almost 1,000 new electric cars are sold. The key advantage of an electric car is its innovation and environmental friendliness.
The top five most popular electric vehicles purchased by Ukrainians in 2024 with the financial support of OTP BANK are:
– Tesla
– Nissan
– Volkswagen
– BYD;
– Honda.
“The bank gives its customers complete freedom in choosing a car. We do not set any restrictions on the condition, age or mileage. We do not require a deposit and compulsory hull insurance. We are ready to support both the buyer’s independent choice and help with the selection of a car, as we have an extremely wide network of partners throughout Ukraine,” added the head of the car loan development department.
We would like to remind you that OTP BANK offers from UAH 10,000 to UAH 750,000 of loans for used cars. The down payment is 10% of the cost of the car. There is a fixed interest rate for the entire term of financing, and there are no hidden fees or commissions. The loan term is up to 5 years.
