Business news from Ukraine

Business news from Ukraine

VOLUME OF SALES OF FOREIGN CURRENCY BY NATIONAL BANK FROM JUNE 20 TO JUNE 24 DECREASED TO $933 MLN

The volume of currency sales by the National Bank of Ukraine from June 20 to June 24 fell to $933.02 million from $1 billion 55.6 million a week earlier.

According to the information of the National Bank on its website, last week it acquired $7.5 million, which is in the range of volumes of the last six weeks (from $5.5 million to $8.3 million).

Thus, the net sale of currency amounted to $925.5 million, which is better than last week, but still quite a lot – this is the third largest volume of weekly interventions since the beginning of the war.

As reported, the NBU raised the discount rate from 10% to 25% on June 3 in order to increase the attractiveness of the hryvnia and reduce pressure on the country’s international reserves. And earlier, from May 21, the National Bank canceled the upper limit of both the cash selling rate by banks in Ukraine and the hryvnia conversion rate into foreign currency on their cards outside the country, and also halved the ceiling for cashing hryvnia cards abroad – to the equivalent of 50 thousand .UAH per month.

These measures made it possible to reduce the volume of interventions in the first two weeks of June, but last week they rose again, exceeding $1 billion for the second time since the start of the war.

At the same time, thanks to the measures taken by the NBU, the dollar exchange rate on the “black” market fell from UAH 37.5-38.5/$1 with a significant reduction in the spread and almost equaled the rate in bank exchangers. Last week it was about 35.55-35.8 hryvnia/$1, this time the hryvnia grew a little – up to 35.4-35.6 hryvnia/$1.

As reported, NBU interventions in May rose to $3.4 billion from $2.2 billion in April, $1.78 billion in March, $0.31 billion in February and $1.31 billion in January.

Finance Minister Serhiy Marchenko previously predicted that Ukraine’s international financial support would rise to $4.8 billion in June from $1.5 billion in May. The National Bank of the country is also counting on such growth, whose international reserves in May decreased by about $2 billion to $25.1 billion. $3 billion or more.

In total, from the beginning of the year to June 24, the National Bank purchased $1 billion 848.6 billion and EUR110.97 million on the market, and sold $12 billion 156.1 million and EUR1 billion 789.11 million.

Including since the beginning of the war, the purchase of foreign currency amounted to $1 billion 191.7 million and EUR110.97 million, and the sale of $9 billion 385.9 million and EUR1 billion 789.11 million.

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HACKERS ATTACKED UKRAINIAN OPERATORS AND TELECOMMUNICATIONS PROVIDERS

The governmental emergency response team of Ukraine CERT-UA, operating under the State Special Communications Service, reported the distribution of dangerous emails with the subject line “Free Primary Legal Aid”.

“The letters come from an email address in the gov.ua domain (probably compromised) and have a password-protected attachment “Algorithm for the actions of family members of a missing soldier LegalAid.rar,” the press service of the State Special Communications Service said on Saturday.

“The specified RAR archive contains the ‘Algorithm_LegalAid.xlsm’ document, the opening of which will ultimately lead to the download and execution of the DarkCrystal RAT malware,” the experts warned.

Given the email addresses of email recipients, experts suggest that the attack is aimed at operators and telecommunications providers in Ukraine.

Activity is tracked by ID UAC-0113. These malefactors in June already carried out cyberattack on the media organizations of Ukraine. (https://bit.ly/3yklzml), the State Special Communications Service emphasized.

BORIS JOHNSON: UKRAINIAN ISSUE WILL BE ONE OF MAIN DURING MEETING OF G7 HEADS

Prime Minister of the United Kingdom of Great Britain and Northern Ireland Boris Johnson, after the meeting of the countries of the British Commonwealth, expressed confidence that the Ukrainian issue will be one of the main issues at the next meeting of the G7 representatives.
“It has been a fantastic few days in Kigali. We are working together with our Commonwealth friends to stimulate trade and investment, advance the green industrial revolution and find solutions to the crisis in Ukraine that will be the focus of the G7 in the coming days,” he wrote in Twitter Saturday night.
As reported, on June 24, Johnson said that the countries of the British Commonwealth together will be able to achieve a reduction in world food prices.
“Global prosperity and stability are under threat – Commonwealth countries bear the brunt of Putin’s recklessness in Ukraine. Together we can bring down food prices and get the world economy back on track while standing up for the freedoms we all believe in,” he wrote.

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PRESIDENT OF UKRAINE APPOINTED NEW AMBASSADORS

By decrees of June 24, President of Ukraine Volodymyr Zelensky appointed Ukraine’s ambassadors to the Republic of Tajikistan and New Zealand.
The relevant decrees No. 444/2022 and No. 445/2022 are published on the website of the head of state.
Valery Evdokimov has been appointed Ambassador to Tajikistan.
In turn, Vasyl Miroshnichenko, Ukraine’s Ambassador to Australia, has been appointed concurrent Ambassador to New Zealand.

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GERMANY TO ALLOCATE EUR1 BLN IN GRANT FUNDING TO UKRAINE

Germany will allocate EUR1 billion in grant funding to Ukraine for priority government spending, the corresponding agreement between the governments was signed on June 24, Minister of Finance of Ukraine Serhiy Marchenko told
“I thank my friend German Finance Minister Christian Lindner for the speed in implementing this important decision. This financial support is more important than ever and will bring our victory closer,” the head of the Ukrainian Ministry of Finance wrote on Facebook.
Earlier it was reported that these funds from Germany, presumably, will be provided through a special account administered by the International Monetary Fund (IMF).
In April 2022, the IMF decided to create an administrative account for crediting funds as part of the Special Drawing Rights (SDR) from donor countries in favor of Ukraine. All funds raised using this account should be used to maintain the financial stability of Ukraine in the form of grants or credits (loans).

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FROM JUNE 27, TRUCKS UP TO 7.5 TONS AND PASSENGER VEHICLES WILL NO LONGER PASS THROUGH YAGODIN-DOROGUSK CHECKPOINT

From June 27, only trucks weighing more than 7.5 tons and scheduled buses will pass through the Yagodin-Dorogusk checkpoint to reduce queues at the border, the State Border Service of Ukraine reports.
“Cargoes up to 7.5 tons and light vehicles will not be processed. Empty trucks will move in separate traffic lanes, while fuel trucks will continue to be processed in the first place,” the message on Facebook said.

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