The net purchase of money by the population of Ukraine since the beginning of this year has exceeded $3 billion.
At the end of October, the population of Ukraine sold cash and non-cash money to commercial banks in the amount of $1,590 billion (equivalent) and bought $2,330 billion. Net purchases of foreign currency amounted to $739.4 million. This is confirmed by data from the National Bank on Thursday, November 2.
So, last month Ukrainians bought the highest amount of money in almost ten years. The highest was only in February 2014 – $782.5 million.
In October, Ukrainians almost doubled their net purchases of foreign currency compared to August, when they reached $444.3 million. At the same time, $359.3 million was purchased by the population in non-cash form.
The increasing trend in the purchase of foreign currency by the population continues for three months. In total, since the beginning of 2023, Ukrainians sold $15.053 billion and bought $18.198 billion. Net foreign currency purchases totaled $3.145 billion.
In turn, National Bank sold $3.338 billion in October. This is the largest volume since June 2022 ($3.956 billion). Compared to September, foreign currency sales increased by 24%.
In total, since the beginning of the year, the NBU has sold $22.604 billion to maintain market balance. These costs are covered by international aid.
Remind us that at the end of August, the NBU allowed banks to sell non-cash money to the population in the amount of 50 thousand Hryvnias without further obligations. Because of this, the dollar exchange rate has depreciated significantly.
And in early October, the NBU announced the transition to a flexible dollar exchange rate. The regulator promised to significantly limit changes in the exchange rate, preventing both a significant weakening of the hryvnia and a significant strengthening.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.