Due to the blackout, Ukrainians are actively hoarding cash: NBU
The regulator reminds that the demand for cash increases in the summer.
As of July 1, 2024, there was UAH 800.9 billion in cash circulation in Ukraine, which is UAH 36.5 billion or 4.8% more than at the beginning of the year. About this informs press service of the National Bank of Ukraine (NBU).
The rate of growth of cash in circulation this year remains low and is mainly related to seasonal factors, because the demand for cash traditionally increases in the summer.
“In addition, power outages caused by Russia’s attacks on Ukraine’s energy infrastructure encourage citizens to keep a certain amount of cash,” the NBU said in a statement.
According to the NBU, there are 2.7 billion units in cash circulation. banknotes for the total amount of UAH 793.5 billion, as well as 14.7 billion pcs. coins (excluding commemorative and investment coins) amounting to UAH 7.3 billion.
As of July 1, there were 65 banknotes and 181 coins of payment exchange and circulation coins per one resident of Ukraine. The most in circulation are 500-hryvnia banknotes and 10-kopeck coins, which make up 28.3% and 28.1% of the total number, respectively. The least in circulation are 50 hryvnia banknotes and 10 hryvnia coins – 4.5% and 1.6%, respectively.
The highest rate of growth in the first half of 2024 was observed for banknotes with a denomination of 1,000 hryvnias and coins with a denomination of 10 hryvnias, the number of which in circulation increased by 1.2 and 1.1 times, respectively, compared to the beginning of the year.
