On May 1, the National Bank of Ukraine (NBU) announced its intention to conclude an agreement with the European Insurance Alliance insurance company for compulsory motor third-party liability insurance (CMTPL) and accident insurance for drivers (AI), according to the Prozorro public procurement system.
The company’s price offer was UAH 641,587 thousand against the expected cost of purchasing the services – UAH 1.044 million.
The tender was also participated in by insurance companies VUSO, whose offer was 28 kopecks higher, and Guardian Insurance Company – UAH 899,940 thousand.
As reported, SK Guardian was the winner of a similar tender a year earlier.
European Insurance Alliance PJSC has been operating in the Ukrainian insurance market since 1994. It is a member of the MTIBU Audit Commission, a participant in the agreement on direct settlement of losses under compulsory civil liability insurance for owners of land vehicles, and a member of the Nuclear Insurance Pool of Ukraine.
The company offers 30 types of voluntary and compulsory insurance, including property, motor vehicle, liability, and personal insurance.
The National Bank of Ukraine (NBU) has improved its estimate of the electricity deficit in Ukraine this year from 4% to 3% and next year from 2% to 1% due to rapid repairs and development of distributed generation.
“Rapid repairs of shunting generation and energy infrastructure, development of distributed electricity generation and renewable energy capacities against the background of maintaining sustainable electricity imports allow us to improve the estimate of the electricity deficit over the forecast horizon,” the NBU states in its April 2025 Inflation Report, comparing it with the January report.
According to the NBU, the deficit will almost disappear in 2027 (1%).
Thus, according to the report, the impact of energy supply restrictions on real GDP will decrease, and annual electricity imports in 2025-2027 will amount to about $0.5 billion.
As reported, at the end of 2024, the Ministry of Energy reported that the total capacity of distributed gas-fired generation units connected in Ukraine last year amounted to 967 MW, of which 835 MW were commissioned in 2024.
The National Bank of Ukraine (NBU) on April 23 announced a tender for compulsory insurance of civil liability of car owners and insurance of drivers against accidents in transport, according to the state procurement system Prozorro.
The expected cost of purchasing the services is UAH 1.044 mln. The deadline for submission of documents is April 30, 2025. The winner of a similar tender a year ago was IC “Guardian”.
The National Bank reduced the sale of foreign currency on the interbank market last week by $221.77 million, or 41.4% – to $314.4 million, according to the regulator’s statistics on its website.
According to it, the National Bank even bought $10 million on the market last week, the last time it was in early March, while in general, since the beginning of the year, the purchase amounted to $33.5 million against $10.24 billion of sales.
Thus, net foreign exchange interventions of the NBU over the past week fell by 43.2% to $304.4m.
The data, which the regulator has managed to make public during this time, indicate a change in the situation on the cash market of currency: for the first time since the beginning of the year, the sale of currency exceeded the purchase. From $19.7 million on Monday, the net balance of sales decreased to $8.3 million on Tuesday, $1.2 million on Wednesday and $3.0 million on Thursday.
The official hryvnia/$1 exchange rate was volatile last week: from 41.3879 UAH/$1 on Monday, it strengthened to 41.1753 UAH/$1 on Wednesday before weakening again to 41.3955 UAH/$1 at the end of the week.
On the cash market, the hryvnia depreciated by 10-14 kopecks over the week as the margin widened: the buying rate went to UAH 40.95/$1, while the selling rate went to UAH 41.10/$1.
As analysts of KYT Group note, in early April the currency market of Ukraine continued to demonstrate relative stability in the dollar segment and noticeable strengthening of the euro: the dollar rate is declining under the influence of external weakness of the U.S. dollar, while the euro rate is growing both due to the global trend and structural demand for the Euro currency in Ukraine.
“In general, the Ukrainian currency market is characterized by growing liquidity, narrowing spreads and decreasing volatility against the dollar, which is evidence of the formation of relative predictability of further exchange rate trajectories,” KYT Group believes.
They noted that in the domestic market, the rates of purchase and sale have come close to the official rate of the NBU: market rates of both purchase and sale of the dollar began to move almost synchronously with the official, without significant deviations and equidistant from the official – +\- 25 kopecks, which reduces market volatility.
“In the short term (2-4 weeks), the dollar exchange rate is likely to move smoothly in the range of 41.10-41.80 UAH/$ with possible adjustments within 20-30 kopecks, associated with situational demand”, – predicted in KYT Group.
In their opinion, the medium-term perspective (2-4 months) provides for the possibility of returning to the range of 41.80-42.50 UAH/$ in case of inflation growth, import activity or pressure on the budget.
The National Bank of Ukraine (NBU) expects a significant increase in grain, oilseeds and vegetable harvests in 2025, in the range of 10-17%.
“As for grains, we expect a 12% increase in harvests, 10% in oilseeds, and 17% in vegetables and potatoes,” said NBU Deputy Governor Sergiy Nikolaychuk at a press briefing on Thursday.
According to him, spring frosts and potentially prolonged periods of drought could negatively affect the yields of certain crops and put some pressure on prices, and this is considered a risk.
At the same time, according to the Ministry of Agrarian Policy, there is no significant damage to crops from frost, the NBU Deputy Governor noted.
“Therefore, I would like to reiterate our thesis that a significant slowdown in food inflation in the second half of the year is one of the important factors behind the overall slowdown in inflation in the second half of the year. And, in fact, this is our baseline scenario,” Mr. Nikolaychuk emphasized.
According to him, after the prices for agricultural products rose quite significantly last year, the potential for further price increases, even if negative risks materialize, will be limited by the relevant imports.
The NBU deputy governor added that the current harvest forecast is not much different from the one published in January.
Mr. Nikolaychuk emphasized that according to the operational data coming from the Ministry of Agrarian Policy, no serious damage to crops due to frost has been recorded so far.
As reported, this year’s planting season is 20.6% behind last year’s. As of April 11, Ukraine sowed more than 1 million hectares of spring grains and legumes.
The National Bank of Ukraine (NBU) increased sales of foreign currency on the interbank market last week by $144.27 million, or 36.8%, to $536.17 million, according to statistics on the regulator’s website.
According to the statistics, the National Bank bought only $0.06 million last week, compared to $6.63 million a week ago.
The data that the regulator managed to publish during this time shows that the negative balance between the volume of currency purchases by the population and the volume of its sales last week was volatile: from $16.6 million over the weekend and Monday, the amount increased to $22.1 million on Tuesday and $24.2 million on Wednesday, but on Thursday it fell to $17.2 million.
Along with the increase in interventions, the official hryvnia exchange rate against the dollar weakened by 19 kopecks to 41.3879 UAH/$1 last week.
On the cash market, the dollar also rose in price, but much less: from the level of 40.87-41.00, it reached a local peak of 41.16-41.30 UAH/$1 on April 10, but then the hryvnia strengthened to 40.95-41.10 UAH/$1.
As reported, Ukraine’s international reserves amounted to $42.4 billion as of April 1, 2025, up 5.6%, or $2.23 billion, from a month ago.
