In Ukraine, it became less of cash: whether to worry about it

В Украине стало меньше наличных средств: стоит ли об этом волноваться

According to the National Bank, the volume of cash outside Bank circulation since the beginning of 2019 has decreased by 2.6%. It is reported ONLINE.UA with reference to the NBU website.

According to the official information of the national Bank, the total volume of money supply (M3 aggregator) for April increased by 0.8%. Since the beginning of year this indicator decreased by 1.1 percent to 1,263 trillion UAH. The aggregator M3 includes not only cash issued by the NBU, but also government securities and deposits.

Directly the monetary base increased by 3.1% in April and 0.3 percent since the beginning of the year to a value of 437 billion. When compared with the previous year, recorded a significant slowdown in money supply growth. For 2018, the total money supply in Ukraine grew by 5.6 percent to 1,276 trillion hryvnia, while the monetary base by 9.2% to a value in 435,8 billion hryvnia.

The decrease in the volume of cash in circulation outside banks is a positive sign. This indicates the growth of public confidence in the banking system. People are more open deposits and most transferred their savings in non-cash form.