In June, Ukrainians sold more foreign currency than bought for the first time - National Bank
One of the reasons for this is that with the strengthening of the hryvnia, the difference between the rates on the cash and non-cash markets is now minimal
In June 2023, for the first time since July last year, the volume of foreign currency sales by the population of Ukraine exceeded the volume of its purchases: net sales amounted to $17.8 million compared to net purchases of $158.6 million in May and $224.4 million in April.
Source. This was reported by the National Bank of Ukraine on Tuesday.
This result was due to net sales of non-cash foreign currency: last month it increased to $194.2 million from $91.6 million in May.
In particular, the volume of non-cash foreign currency sales by households increased to $277.2 million in June from $231.6 million in May, while the volume of purchases fell to $82.9 million from $140.0 in May.
This is due to the loss of public interest in purchasing non-cash foreign currency by placing it on a three-month deposit in recent months, as the difference between the rates on the cash and non-cash markets is now minimal as the hryvnia has strengthened.
As for cash foreign currency, its sale also increased slightly compared to May: from $1.377 billion to $1.397 billion, while its purchase decreased from $1.627 billion to $1.574 billion.
According to the NBU, the turnover in the official cash foreign exchange market in June remained at around $3.0 billion, which is 73.1% more than in June 2022.
In June, the dollar exchange rate on the cash market fluctuated in a relatively narrow range of 37.10-37.30 UAH/$1, against the official exchange rate of 36.57 UAH/$1, which has been maintained by the National Bank since the end of July last year.
In the first six months of the year, net purchases of foreign currency by households reached $1 billion 889.3 million, including $1 billion 311.1 million in cash.
Background. As reported, the NBU has accumulated almost UAH 30 billion for defense since the beginning of the war.
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