After the start of the war, the structure of exports changed and the demand for cash euros from the population increased, the regulator explained.
The role of the euro has significantly increased in the Ukrainian currency market due to changes in the structure of exports since the beginning of the war and a large number of migrants. This was said by the Deputy Head of the National Bank Sergei Nikolaychuk in an interview with RBC-Ukraine, published on Tuesday, November 15.
“Yes, of course, it’s an objective process that takes place,” he said.
Nikolaychuk noted that before the dollar prevailed in payments for goods, and after the start of the war, logistical difficulties and the destruction of production facilities to a certain extent reduced the share of raw export materials.
In addition, according to him, the flow of traffic at the border of Europe has only intensified. This led to the fact that if, for example, in 2021, the share of the euro in payments for the export of goods was only 26%, then in the second quarter of this year it increased to 44%.
“We also see that, due to the large number of our migrants in European countries, the demand for cash euros from the population has increased significantly,” added the deputy head of the NBU.
Recall that in October the NBU allowed citizens to buy non-cash currency at the regulator’s rate with placement in term deposits.
It was also reported that in September, the population’s purchase of foreign currency in banks increased one and a half times.
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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.