For the first time in 20 years, the euro exchange rate fell to parity against the US dollar on fears that the crisis in the European economy may be more significant than in the United States.
The euro/dollar is trading at $1.0017 at 8:55 am KST, compared to $1.0043 at the market close on Tuesday, with the euro shedding about 0.3%. During overnight trading, the euro traded against the dollar at a parity rate.
The ICE-calculated index, which shows the dynamics of the dollar against six currencies (the euro, the Swiss franc, the yen, the Canadian dollar, the pound sterling and the Swedish krona), rises by 0.4% to 108.43 points. Over the past five sessions, the index has gained 1.8%. The broader WSJ Dollar Index added 0.2%.
The dollar has been gaining in price lately as traders consider the US currency a defensive asset that will help save capital in the event of a recession in the global economy, writes Trading Economics.
In addition, the dollar is supported by expectations that the Federal Reserve System (Fed) will again raise the key interest rate by 75 basis points in July in order to curb inflation, which has been a record for 40 years.
June US consumer price data will be released on Wednesday. Experts expect inflation in the country to accelerate to 8.8% from 8.6% a month earlier.
The value of the pound fell during trading on Tuesday by 0.3% to $1.1861 against $1.1892 at the close of the previous session.
The exchange rate of the American currency paired with the yen is stable and is around 137.44 yen.
In the first 10 days after the abolition of benefits, Ukrainians cleared 4,600 cars through customs and paid UAH 464 million to the budget, the State Customs Service reported.
“For 10 days of customs clearance of vehicles, almost UAH 464 million was paid to the state budget. From July 1 to July 10, the State Customs Service issued 4,662 units of vehicles purchased abroad with customs payments,” the agency said on the Telegram channel on Tuesday.
As the customs reminded, benefits for the import of goods, including cars, have been canceled since July 1. Thus, at present, imported vehicles are again subject to import duties, and individual entrepreneurs of groups 1-3, who are not VAT payers, must again import goods with VAT.
Central bank official rates of banking metals as of July 12
One troy ounce=31.10 grams
National bank of Ukraine’s official rates as of 12/07/22
Source: National Bank of Ukraine
JSC “Lvov confectionery factory “Svitoch” (Lviv), controlled by Nestle and one of the largest manufacturers of confectionery products in Ukraine, will change its legal form of business from a joint-stock company (JSC) to a limited liability company (LLC).
The corresponding decision at the meeting on July 8 was made by the sole beneficiary owner of the enterprise – the company “Societte De Produit Nestle S.A.” (Societe Des Produits Nestle S.A.), according to the NCKBFR website on Tuesday.
“First of all, we want to assure you of the continuity and continuity of our business activities. We have no plans to stop such activities. On the contrary, the simplification of the company’s management system will lead to an improvement in the efficiency of such management,” the company said in a statement.
“Svitoch” clarified that all obligations assumed by it in accordance with the law and agreements with partners remain in force and will be fulfilled in full and within a certain period – either JSC “Lviv Confectionery Factory “Svitoch”, or its successor LLC “Lvivskaya confectionery factory “Svitoch”
Nestlé owns a 96.96% stake in the Svitoch confectionery. The Nestle group of companies in Ukraine also unites Nestle Ukraine LLC, Volynholding PrJSC (Torchin TM), Technocom LLC (Mivina TM).
Svitoch received UAH 70.44 million in net profit in 2020, and its revenue amounted to UAH 2.56 billion.
Beer production in Ukraine (except non-alcoholic beer with an alcohol content of up to 0.5% vol.) in January-June 2022 decreased by 32% compared to the first half of 2021 – to 57.6 million dal.
As reported on the site of the industry organization of brewers “Ukrpyvo”, in the first half of 2022, the recovery of beer production is recorded after the fall in the first quarter, when this indicator decreased by 50% compared to January-March – from 34.1 million dal to 17.1 million dal
In the future, the production of beer in the country was restored – according to the results of four months of this year, the decline was 42.8% compared to the same period last year, in May – 36.4%, in June – 32%.
According to “Ukrpiva”, malt production in the first half of 2022 decreased by 50.6% compared to January-June 2021 – to 55.1 thousand. tons, while according to the results of the first quarter of 2022, its production decreased by 40.8%.
As reported, Ukraine produced 5% less beer in 2021 compared to 2020 – 170.5 million dal, and in 2020 its production decreased by 0.4% compared to 2019 – to 179.7 million dal.
Malt production in 2021 amounted to 218.5 thousand tons, which is 19.5% less than in 2020. At the same time, in the year before last, its production decreased by 18% compared to 2019, to 275 thousand. tons
