In January-September 2025, Euroins Ukraine (Kyiv) collected UAH 635.1 million in net premiums, which is 71.1% more than in the same period of 2024.
According to the company’s interim report posted on the information disclosure system of the National Securities and Stock Market Commission (NSSMC), its gross premiums for this period amounted to UAH 1.043 billion (more than 2.2 times). UAH 201.8 million was transferred to reinsurance (more than 2.4 times).
During the period, the company paid out UAH 204.9 million, which is 16.7% more than during the same period a year ago. At the same time, administrative expenses amounted to UAH 53.037 million, which is 49.2% higher than in January-September 2024.
The financial result from operating activities of IC Euroins Ukraine for nine months amounted to UAH 64.5 million, net profit – UAH 55.8 million, while a year earlier the loss amounted to UAH 10.060 million and UAH 24.439 million, respectively.
Euroins Ukraine is a universal non-life insurer that has been operating in the Ukrainian market since 1992. The company has 75 representative offices throughout the country and is licensed to provide insurance in 16 classes. It is actively involved in the segments of auto insurance, medical insurance, property insurance, liability insurance, and cargo insurance for private and corporate clients.
Euroins Ukraine Insurance Company is a member of the Motor (Transport) Insurance Bureau of Ukraine, the League of Insurance Organizations of Ukraine (LIOU), and the European Business Association (EBA).
Geographical structure of Ukraine’s foreign trade (surplus) in January-May 2025, million USD
Source: Open4Business.com.ua
Scientists have found that cocoa powder, which is rich in flavanols, can play a significant role in strengthening artery health, according to New Atlas.
In a recently published study, researchers analyzed the effect of high-flavanol cocoa on arterial function in adult volunteers. It turned out that regular consumption of this product contributed to improved elasticity of the arterial walls — a key indicator of cardiovascular stability.
According to the study’s authors, adding a product with a high content of cocoa flavanols can be considered one of the additional methods of preventing vascular and heart disease. In particular, flavanols stimulate the release of nitric oxide, a substance that dilates blood vessels and reduces arterial resistance.
“Our work shows that intervention with a natural food component, cocoa flavanols, can improve vascular function in adults without significant cardiovascular disease,” said the lead author of the study.
However, the researchers emphasize that this approach does not replace clinical therapy, but serves only as a complementary measure along with proper nutrition, physical activity, and avoiding harmful habits.
It was previously known that dark chocolate containing cocoa with a high percentage of flavanols is associated with a lower risk of cardiovascular events. The new data confirm the mechanism of this effect and pave the way for the development of functional foods based on cocoa flavanols.
World demand for gold excluding over-the-counter (OTC) transactions in the third quarter of 2025 amounted to 1.26 thousand tons, which is 5% higher than the result of the corresponding period last year, calculated by the World Gold Council (WGC).
Investors continued to play a key role: purchases in ETFs in the third quarter amounted to 222 tons, demand for coins and bars – 316 tons (for the fourth consecutive quarter it exceeded 300 tons). Central bank purchases also remain at a high level of 220 tons – 28% more than in the previous quarter.
Supply in the gold market increased by 3% to 1.31 thousand tons. This is a quarterly record in the history of observations. The excess supply, 55 tons, was absorbed by the OTC market.
Earlier, the Experts Club think tank presented an analysis of the world’s leading gold producing countries in its Youtube channel video – https://youtube.com/shorts/DWbzJ1e2tJc?si=YuRnDiu7jtfUPBR9.
Issue #2 – October 2025
The purpose of this review is to provide an analysis of the current situation on the Ukrainian currency market and a forecast of the hryvnia exchange rate against key currencies based on the latest data. We analyze current conditions, market dynamics, key influencing factors, and likely scenarios.
Analysis of the current situation on the currency market
International context
The second half of October was influenced by expectations of the next decision by the Federal Reserve Committee on the key policy rate. The previous 25 basis points cut in September was a result of the strategy to achieve 2% inflation. Then in September, the Fed began a cycle of easing, and at the October 29 meeting of the Committee, it decided to cut the key policy rate by 25 basis points to the range of 3.75-4%. As Fed Chairman Jerome Powell said at a briefing on October 29, the outlook for employment and inflation has not changed much since the September meeting, with labor market conditions deteriorating and inflation remaining slightly elevated.
Thus, the US economic outlook is somewhat worrisome for investors. However, optimism in the markets increased in late October, mainly due to messages from President Donald Trump regarding further cooperation with China. On October 29, Donald Trump said at the Asia-Pacific Economic Cooperation summit in South Korea that he believed the United States would “make a deal” with China and that it would be a “good deal for both sides.” Trump and Xi Jinping met on October 30. As a result, the US president said that the parties had agreed to reduce overall duties on Chinese goods from 57% to 47%, and China promised to continue exporting rare earth metals.
In general, the dollar strengthened against the euro in October on the back of the expected decision of the Fed Committee on the key rate and the plans announced by the White House for a meeting between Donald Trump and Chinese President Xi Jinping. So it’s no surprise that on October 29, the EUR/USD rate held at 1.1630. This is actually an echo of positive market sentiment, driven by the Fed’s policy easing and the expectation of an agreement between China and the United States. However, some pullback in the direction of a fall in the dollar remains possible in the near future, as the deteriorating situation in the US labor market may play against the dollar.
Meanwhile, in the EU, investors expect the European Central Bank (ECB) to keep interest rates stable at its meeting on Thursday, October 30. Later, the ECB will release preliminary GDP data for the third quarter and inflation data for October, but it seems that there are no surprises from the ECB, and the rate will remain at 2%.
In general, the picture for the EU is quite stable, although there are some reservations about further economic growth in the eurozone, in particular in 2026, amid new US tariffs on imports from Europe. The euro is also influenced by expectations about the development of trade relations between the US and China, and the actual outcome of negotiations between the two countries may contribute to some increase in the volatility of the EUR/USD pair.
In Ukraine, the dollar strengthened faster in late October than in global markets, where the EUR/USD exchange rate has shown a strengthening of the dollar from 1.1685 to 1.1630 since the beginning of October. It is worth noting that the scenario of a change in the Fed’s key policy rate has already been priced into the international market, so this aspect will have the least impact on exchange rate fluctuations in the near future.
Domestic Ukrainian context
In October, the Ukrainian foreign exchange market saw a trend of devaluation of the national currency. Since the beginning of October, the hryvnia has been steadily weakening against the dollar: as of October 29, the official exchange rate reached 42.08 UAH/USD, while on October 1, the rate was 41.14 UAH/USD. Thus, the hryvnia has lost 2.28% in almost a month. The exchange rate on the cash market is also changing accordingly, with the average exchange rate in banks as of October 29 at UAH 42.25 per dollar.
Demand for foreign currency on the interbank foreign exchange market is growing, but the National Bank is in no hurry to increase interventions. In fact, we can state that the devaluation is being managed and is being carried out under the strict control of the NBU.
In October, Bloomberg reported on the IMF’s position on the hryvnia exchange rate. The publication said that the Fund was putting pressure on the National Bank to conduct a controlled devaluation of the hryvnia. The IMF believes that devaluation will be a way to strengthen the financing of the state budget, but the NBU disagrees because of the high risks of inflation. Devaluation is indeed partially justified by the possibility of converting funds received from Ukraine’s creditors and partners at a better rate, increasing the volume of state treasury revenues. However, a sharp devaluation would be a rather risky decision. At the moment, we are talking about a gradual weakening of the hryvnia exchange rate, which is fully controlled by the NBU.
In our opinion, the exchange rate fluctuations in October were influenced by three main factors: the strengthening of the dollar in global markets, increased demand for foreign currency from importers, including energy goods and equipment, and the need to be guided by the exchange rate parameters set in the draft new state budget for 2026. As a reminder, the document refers to an average annual hryvnia exchange rate of UAH 45.7 per dollar.
An important trend in October was a marked increase in demand for cash foreign currency from the population. There was also a noticeable increase in demand for dollars in September, when net purchases of foreign currency by households reached $382.7 million. The official figures for October are likely to be higher than those for September. Banks have noted an increased demand for non-cash purchases of foreign currency, which is also an important sign of expectations of further hryvnia devaluation.
The most important factors influencing exchange rate volatility are the war and news from the frontline, shelling of energy infrastructure, and the passage of the psychological mark of the exchange rate – the level in the cash market of more than UAH 42 per dollar.
The National Bank of Ukraine will act cautiously, traditionally adhering to its position of smoothing out significant market fluctuations and trying to maintain a certain balance in the interbank market. The main factors that will influence exchange rate changes are the balance of supply and demand in the market, the NBU’s readiness to intervene, and the rhythmic flow of international aid. It is also important to know what the new arrangements with the IMF will be like, as it is known that IMF Managing Director Kristalina Georgieva plans to visit Ukraine to discuss a new loan package, which may amount to (but has not yet been officially confirmed) $8 billion.
US dollar exchange rate: dynamics and analysis
General characteristics of market behavior
In October, the dollar experienced slight fluctuations in the international market, and the US currency continued to strengthen in the Ukrainian market.
During the month, the exchange rate gradually went up: the average buying rate rose from UAH 41.01 to UAH 41.8, the selling rate from UAH 41.52 to UAH 42.25, and the official NBU rate from UAH 41.14 to UAH 42.08. The dollar is strengthening smoothly and steadily.
In October, the buying rate was in the range of UAH 41.0-41.77/$ on the cash market (weighted average rate), and the selling rate was in the range of UAH 41.38-42.15/$. At bank cash desks, the spread between the buying and selling rates grew throughout the month and in large retail banks amounted to UAH 0.45-0.6 per dollar at the end of October.
Key factors of influence
Forecast.
Euro exchange rate: dynamics and analysis
General characteristics of market behavior
In October, the euro on the Ukrainian market moved toward appreciation in line with the domestic trend of hryvnia devaluation, taking into account the situation on global markets. While on October 1, the official euro exchange rate was at 48.3 UAH/€, on October 29 it was 48.98 UAH/€.
Key observations
Ø Exchange rate geometry:
o The euro selling rate in Ukraine moved in different directions in October, but after October 21, it took a steady upward course.
o The buying rate continues to move actively away from the selling rate, with the spread between the rates in banks growing and at the end of October in the range of UAH 0.8-1 per EUR.
Ø Supply and demand:
o Demand for cash euros in Ukraine initially fell during October, but after the trend of hryvnia devaluation became clearer in the second half of the month, demand in the cash segment increased significantly.
o The spread between buying and selling euros, which is significantly different from the spread in the dollar segment, continues to grow, which indicates that banks and financial institutions are not confident in the stability of this currency: a high spread is always a payment for risk and high volatility.
Key influencing factors
Forecast.
Recommendations: dollar or euro – buy, sell, or wait?
USD/UAH
The strengthening of the dollar in the fall of 2025 was driven by optimism about the start of a new phase of trade discussions between the US and China, as well as by the levels of fluctuations that the markets had already set in advance due to the next stage of monetary policy easing in the US.
The dollar will now play a major role in the structure of savings, and it is advisable to continue buying it in tranches from time to time. However, for short-term gains, a partial exit from the dollar is also possible after a thorough analysis of the investment strategy.
Further strengthening of the dollar and a clear devaluation trend provide opportunities to generate a return on dollar investments. However, globally, in an unstable hryvnia environment, such an exit should be accompanied by additional security measures, such as strong capital preservation strategies and further hryvnia investments in liquid assets. For a medium-term strategy, it is advisable to keep the dollar as the basis of the currency portfolio.
EUR/UAH
The euro is showing an upward trend in the Ukrainian market, and the high level of fluctuations does not allow for a full assessment of future dividends from the purchase of assets in euros. In the medium term, the euro will strengthen against the US dollar. It is advisable for investors to hold 20-30% of their portfolios in euros, given the need to diversify their savings.
It is not advisable to sell the euro at current levels, as the projected growth potential shows levels above UAH 50/€ in the coming months. The euro can be a base currency for speculative transactions due to the high spread and more active exchange rate dynamics.
Overall strategy
The Fed’s key policy rate cut and the latest US labor market data may lead to a weaker dollar. In the long run, the dollar will be supported by new agreements between the US and China, as they currently indicate a de-escalation of relations between the two countries. The euro will be supported by the ECB’s data on inflation and GDP growth in its member states.
Investors should choose the dollar as their savings base for the near future, but regularly review their portfolio for diversification and the presence of other liquid currencies. The euro can be an important part of a portfolio, especially given the unstable situation in the United States and investors’ uncertainty about further economic growth, as well as President Donald Trump’s mixed statements that could provoke market outbursts.
There is a clear trend of hryvnia devaluation in the Ukrainian market, which gives investors good reason to invest in the dollar as a base currency and the euro as a currency for diversification and possible short-term and speculative transactions. A good strategy is to preserve savings by entering the dollar and increase the possibility of profitable earnings on exchange rate fluctuations in the euro. Given the high chances of the dollar strengthening in the Ukrainian market, the US dollar will remain the main means of preserving and increasing foreign currency investments in the long term.
This material has been prepared by analysts of the international multiservice product FinTech platform KYT Group and reflects their expert, analytical professional judgment. The information presented in this review is for informational purposes only and cannot be considered as a recommendation for action.
The Company and its analysts make no representations and assume no liability for any consequences arising from the use of this information. All information is provided “as is” without any additional warranties of completeness, obligations of timeliness or to update or supplement.
Users of this material should make their own risk assessment and informed decisions based on their own evaluation and analysis of the situation from various available sources that they consider to be sufficiently qualified. We recommend that you consult an independent financial advisor before making any investment decisions.
REFERENCE
KYT Group is an international multi-service marketplace FinTech product platform that provides financial companies with access to services for promoting their services, as well as advertising and consulting services.
The buckwheat harvest in Ukraine in 2025 is 15% lower than a year earlier, which is not a problem for the domestic market, but will lead to price increases due to frenzied demand provoked by the media, said Rodion Rybchinsky, director of the Ukrainian Flour Millers Association.
“As far as I understand, this year’s buckwheat harvest is already 15% lower than last year’s. Questions about its availability should be addressed not to processors, but to farmers engaged in agribusiness,” he said at the Agro2Food Profit forum in Kyiv on Wednesday.
The expert explained that farmers themselves decide what is profitable for them to sow—sunflowers, soybeans, rapeseed— and then defend their rights to export soybeans and rapeseed to the Ministry of Economy and the State Tax Service without paying a 10% export duty, or to sow buckwheat, which yields 1.3-1.5 tons/ha, and then sell it for UAH 20,000 per ton.
Responding to a question about the reasons for the rise in buckwheat prices this year, Rybchinsky said that there were no reasons, but prices would still rise.
“Some newspaper or Telegram channel started shouting this week that buckwheat is getting more expensive. People listened and rushed to the supermarket. They see that buckwheat is selling for 25 UAH/kg, and tomorrow it will be 30 UAH/kg. They bought it all up. The warehouses of processing plants are empty. Retailers are starting to ask the authorities, ‘Where is the buckwheat? ’ And it’s with the farmers, who are waiting for prices to rise to 40 UAH/kg and are not releasing the product. They are doing this because consumers have bought up all the product at 25 UAH/kg,” explained the head of the industry association.
Rybchinsky recalled that the rush demand for buckwheat, rye, and other products occurs steadily every three to four years.
“Ukrainians do not eat buckwheat in such quantities as the media try to portray. Buckwheat is primarily needed by people with diabetes. Other consumers can do without it, because Ukraine produces more corn and wheat groats than it needs for domestic consumption,” emphasized the head of the Ukrainian Flour Millers Association, urging Ukrainians not to react to the artificially created hype.
As reported, in the 2025 season, Ukrainian farmers reduced the area under buckwheat to 69,100 hectares, compared to 90,300 hectares a year earlier. As of October 24, buckwheat has been harvested from 86% of the production areas with a yield of 14 tons/ha, yielding 83.3 thousand tons, compared to 126.9 thousand tons a year earlier.
