ICU - Weekly Insight -- The hryvnia under pressure due to VAT refunds

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ICU

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Weekly Insight -- The hryvnia under pressure due to VAT refunds

Last week, the hryvnia tried to return to the level of early October, but eventually strengthened again and ended the month at UAH26.27/US$. The hryvnia exchange rate will remain close to this level this week as well, with further prospects for another strengthening during the quarterly tax payment period.

01/11/2021 7 EN

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ICU

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Other Reports from ICU

Research Team

Research Team

Weekly Insight -- NBU keeps the key rate at 15.5%

As expected, the regulator decided not to change the policy rate. The central bank explained that tight monetary conditions remain necessary to control inflation and safeguard the stability of the hryvnia.

September 15, 2025 September 15, 2025 7 EN

Research Team

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Weekly Insight -- NBU reserves get boost in August

The gross international reserves of the NBU surged 7.0% in August and 5.1% in 8m25 to US$46.0bn. Ukraine received a sizeable amount of foreign financial aid over the month, including $4.7bn via Ukraine Facility and ERA program and $1.1bn from the World Bank, which boosted NBU reserves.

September 8, 2025 September 8, 2025 6 EN

Research Team

Research Team

Weekly Insight -- C/A deficit record high in July

Monthly current account (C/A) deficit exceeded US$4.1bn in July, the level seen first time ever. The surging trade-in-goods deficit (US$4.4bn in July and US$42bn over 12-month period) was the key culprit behind the record high C/A gap. Export of goods remain suppressed with only marginal 3% growth YoY in July while imports surged 20% with significant growth seen across the board.

September 1, 2025 September 1, 2025 7 EN

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Weekly Insight -- The hryvnia under pressure due to VAT refunds

Weekly Insight -- NBU keeps the key rate at 15.5%

Weekly Insight -- NBU reserves get boost in August

Weekly Insight -- C/A deficit record high in July

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