Last week, the National Bank of Ukraine (NBU) reduced its sale of dollars on the interbank market by $131.6 million, or 17.9%, to $602.7 million, while the weakening of the hryvnia slowed to 12.8 kopecks from 37.4 kopecks a week earlier.
According to information from the National Bank, during the first four days of last week, the average daily negative balance of currency purchases and sales by legal entities increased to $74.2 million from $36.6 million during the same period a week earlier, totaling $297 million.
At the same time, on the cash market, on the contrary, there was a decrease in currency purchases by the population: from Saturday to Thursday, the negative balance amounted to $21.3 million against $29.6 million the week before last. The purchase of non-cash currency exceeded its sale during all these days.
The official hryvnia-dollar exchange rate, which started last week at 41.6027 UAH/$1, weakened to 41.7607 UAH/$1 over three days but ended the week at the same level.
On the cash market, the dollar exchange rate over the past week fluctuated around the official rate of 41.7565 UAH/$1, and the hryvnia weakened by about 25 kopecks to the following levels: purchase – about 41.70 UAH/$1, and sale – about 41.80 UAH/$1.
At the end of last week, Bloomberg reported pressure from the International Monetary Fund to increase the pace of hryvnia devaluation, but there is no information on the impact of this factor yet, except that on the first trading day of this week, the hryvnia fell slightly to 41.7624 UAH/$1.
“The Ukrainian currency market continues to be influenced by the National Bank of Ukraine’s strategy of controlled flexibility… Since the beginning of October, the hryvnia has been gradually weakening against the dollar. The exchange rate on the cash market is changing at a similar pace,” experts from KYT Group, a major player in the cash currency exchange market, described the situation.
They added that there has been a noticeable increase in demand on the interbank market in October, and the NBU has been forced to increase its interventions. According to experts, this trend is seasonal on the one hand, as companies’ need for currency to make payments increases in the fall, and on the other hand, an additional factor affecting the hryvnia was the intensification of shelling of Ukraine’s energy and gas infrastructure, which led to an increase in imports of gas and energy equipment.
“In the short term (1–1.5 weeks): the base range is 41.4–41.9 UAH/$1, with a probable tendency toward the upper limit of the forecast,” according to the forecast for the cash market provided by KYT Group.
In the medium term (2–3 months), according to its experts, the exchange rate will be in the range of 41.30–42.00 UAH/$1. They believe that if the Fed goes ahead with an October rate cut and the risks of a trade war between the US and China weaken, the fundamental movement of the dollar on the international market may strengthen, which will also affect the exchange rate in Ukraine. However, the domestic Ukrainian context of expectations of continued large-scale shelling of infrastructure and a deterioration in the energy sector, as well as the high demand for growth in import volumes, may contribute to a more rapid strengthening of the dollar on the Ukrainian currency market.
“In the long term (6+ months): the scenario of a gradual devaluation of the hryvnia remains. Provided that international aid continues to flow in at a steady pace, the benchmark is 43.20-44.40 UAH/USD until mid-2026, taking into account the current situation in Ukraine,” according to a comment by KYT Group.
Source: https://bank.gov.ua/ua/markets
https://interfax.com.ua/news/projects/1113033.html
In August, the National Bank of Ukraine (NBU) fined PJSC Bank Vostok (Dnipro) a total of UAH 16 million for violating anti-money laundering legislation, according to information on the regulator’s website. Fines of UAH 15 million and UAH 1 million were imposed for violating the requirements of the AML/CFT law in terms of the bank’s improper performance of its obligation to apply a risk-based approach in its activities and its improper performance of its obligation to conduct proper verification of customers with whom it has high-risk business relationships.
In addition, the bank was given two written warnings for violating the requirements of the AML/CFT law in terms of improper performance of its obligation, taking into account the requirements of the law, to develop and implement internal documents on AML/CFT issues, as well as for the absence in internal documents on financial monitoring procedures sufficient to ensure effective risk management, and for errors in information (statistical reporting) on currency transactions.
According to information on its website, Ukrainian commercial bank Vostok is owned by Vostok Capital, whose shareholders are Vladimir Kostelman (owner of Fozzy Group), Vadim Morokhovsky, and Liya Morokhovskaya.
Serhiy Mykolaychuk said in an interview with Interfax-Ukraine that the NBU’s monetary policy remains moderately tight and effective. According to him, despite business criticism, the interest rate transmission is effective – stimulating hryvnia deposits and strengthening lending in the national currency.
He added that the interest rate of 15.5% is balanced and contributes to curbing inflation, generating yields on ISI and OVDP and preserving the stability of the foreign exchange market.
The National Bank of Ukraine (NBU) on August 11 announced its intention to conclude a contract with IC “VUSO” (Kiev) for medical insurance of employees, according to the electronic procurement system Prozorro. At the expected cost of purchasing the service of UAH 106.912 mln, the company’s price offer amounted to UAH 100.392 mln.
The tender was also attended by IC “Kraina” – UAH 98.896 mln. The offer of which was rejected because the participant of the procurement procedure indicated in the tender offer unreliable information, which is essential for determining the results of open bidding, which was revealed by the customer.
In addition, the participants of the tender were IC Universalna – UAH 100.450 mln, INGO – UAH 100.480 mln.
As reported, the winner of the tender for VHI of NBU employees in 2023 and 2024 was IC “Universalna”, in 2020 – IC “Kraina”.
IC “VUSO” was founded in 2001. It is a member of MTSBU and NASU, a participant of the agreement on direct settlement of losses and a member of the Nuclear Insurance Pool.
As it was informed, JSC “Oschadbank” on July 29, 2025 announced its intention to conclude with IC “VUSO” the contract of voluntary medical insurance of employees. The offer of the company, the only participant of the tender amounted to UAH 134,285 mln against UAH 134,3 mln expected cost.
The National Bank of Ukraine (NBU) has added Insurance Broker Insurance Space LLC and On Time Insurance LLC to the Register of Insurance Intermediaries in accordance with submitted electronic applications. According to the NBU website, its committee for supervision and regulation of non-banking financial services markets made the relevant decision on August 1, 2025.
SB “Insurance Space” (Kiev) was registered in May 2025. The size of the authorized capital is UAH 5 th.
On Time Insurance LLC (Kyiv) was registered in June 2025. The size of the authorized capital – UAH 100 thousand.
The National Bank of Ukraine (NBU) has identified cases of unlicensed activity in the non-bank financial services market, in particular the exchange of cryptocurrencies for currency, money transfers, and the provision of loans, and will strengthen its supervision in this area.
“We are working systematically to limit any opportunities to use the banking and payment infrastructure to serve the shadow economy (…) We will intensify our activities in the future,” NBU Governor Andriy Pyshnyy said on his Facebook page.
He stressed that de-shadowing will contribute to the formation of a sustainable investment resource for the economy, and also announced the launch of a new area of work for the NBU – identifying unlicensed activities in the non-bank financial services and payment markets.
“Unfortunately, we see that outside the legal field of Ukraine and the relevant supervision of the NBU, citizens are being offered services that have the characteristics of financial services: transfer and issuance of funds, provision of loans, exchange of cryptocurrencies for currency,” Pyshny wrote.
The head of the NBU noted that the goal is not only to identify unauthorized market participants, but also to bring them back into the legal field or initiate legal proceedings against them.
As reported, the National Bank continues to investigate the activities of companies that may be providing financial services without the appropriate licenses, including Obmen24, X-Change, Liberty Finance (KIT GROUP), Tsarsky.io, FinMobile, and Trustee Plus.
