The war has caused significant damage to the cash currency supply chain, says Yuri Gelety.
The problem of lack of money at the cash desks of some banks has no fundamental cause. This is what the Deputy Head of the NBU Yuriy Heletia said in a briefing on Thursday, September 8.
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According to him, before the war, banks brought money by plane. Took a day or two from order.
“Unfortunately, the war led to a significant breakdown in the supply chain. Now they go not by plane, but by land transport. As a result, volumes have decreased, there are physical restrictions on cash-in-transit machines, and there is a need to reload money at the border,” Geletiy said.
In addition, the National Bank carried out liberalization, which allowed banks to sell more foreign currency to the population, which caused additional demand.
Heletiy recalled that yesterday the NBU was exchanging cash for 100 million dollars in banks. On Monday, the regulator will also replace the euro.
“This situation is purely temporary. There is no macroeconomic reason. Banks have a large reserve of non-cash foreign exchange liquidity: if at the beginning of the war it was $5.9 billion, now it is $7.2 billion,” he assured.
Recall that in August, for the first time since the beginning of the war, Ukrainians bought more currencies than they sold. Net purchases of foreign currency by the population last month amounted to more than $106 million.
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Source: korrespondent
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