Most of all in cash circulation today have banknotes of 500 Hryvnia (26.5% of the total number of banknotes in circulation).
The amount of Hryvnia in cash in circulation in Ukraine increased by 14.1% (by UAH 88.5 billion) in 2022 and reached UAH 716.1 billion. This was reported by the press service of the National Bank.
“During 2022, the amount of cash in circulation varied significantly – there was both an increase and a decrease. Such uneven dynamics is due to the full-scale aggression of the Russian Federation in Ukraine,” the report said.
It was mentioned that initially, due to the uncertainty of the situation, the citizens’ need for cash increased significantly, because in the first days of the war, Ukrainians were not sure if the banks would work or if it was possible pay with payment cards. However, everyone quickly realized that despite the war, financial services were running smoothly, cashless payments were being made, so since the beginning of April, the demand for cash began to gradually decrease .
The second wave of cash growth in circulation began in November and was associated with Russia’s massive missile attack on Ukraine’s energy infrastructure.
“Temporary power outages cause delays in the work of some ATMs, it makes it seem that money is no longer available as before. Also, long power outages lead to the loss of mobile communications, and it suspended the operation of pos-terminals ( in most cases post-terminals are connected to the bank through mobile Internet),” said the NBU.
The growth of cash in circulation is observed until the end of 2022.
According to the National Bank, as of January 1, 2023, there were more than 2.9 billion banknotes in circulation for a total value of UAH 710.5 billion, as well as almost 14.2 billion coins (excluding commemorative and investment coins) for in the amount of UAH 5.5 billion.
Among the banknotes, the smallest of all is now in circulation – with a value of 10 hryvnias (3.7% of the total number of banknotes in circulation). Most of all in cash circulation today have banknotes of 500 Hryvnia (26.5% of the total number of banknotes in circulation). At the beginning of last year, the leader in this indicator was the 200 hryvnia banknote (its share was 25.1% on January 1, 2022).
It should be reminded that from January 1, the National Bank began to gradually withdraw from circulation paper money in denominations of 5, 10, 20 and 100 hryvnias of 2003-2007 samples. These bills must be replaced with new ones.
Earlier it was reported that the NBU almost half the sale of dollars.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.