Ukrainians are massively getting rid of currency: what is happening?

Украинцы массово избавляются от валюты: что происходит?

In January 2019, the Ukrainians sold foreign currency in cash 175, $ 5 million more than they bought.

This information was published in the accounting data of the NBU.

On the cash foreign exchange market net sales of foreign currency by the population exceeded the purchase.

Thus, it became known that in January of this year the population of Ukraine sold 912,9 million and bought 737,4 million dollars.

Thus, at the end of the month, the population has sold foreign currency in cash for 175.5 million dollars more than they bought.

We will remind that this week the dollar broke through another psychological mark of 27 hryvnia. So cheap American currency is not worth since last summer. The strengthening of the hryvnia explained by the entry of foreign investors in government bonds and inflows from exporters.

Over the past week the dollar considerably dropped to UAH in all segments of the foreign exchange market by 2.0% to 2.8%. So, since last Friday, the official rate of dollar established by the NBU, decreased from 27.74 to 26.96 UAH UAH (and 2.8%). Demand/supply of the dollar on the interbank market, according to the company “Ukrdealing”, for the same period decreased from 27,485/27,515 to 26,905/26,940 (of-2.1%). The average buying/selling rate of cash dollar in banks has decreased for the week of 27.41/of 27.67 to 26.86/27,13 (to 2.0%).

“In the beginning of the week to strengthen the hryvnia contributed to the high demand for government bonds in national currency. By its end, the growth of hryvnia has slowed, but remained what is called “inertia”. The dollar’s decline lasts for a month and got quite sustainable. Against this background, buyers of the currency in no hurry to make trades, based on the fact that the later they buy, the cheaper it will cost them. Next week we look forward to the continued depreciation of the dollar. By the end of the dollar on the interbank market may be trading close to the 26.4 UAH and the cash dollar in banks by the end of the week can be quoted approximately 26.3/UAH 26.6″ – said a senior analyst at Alpari Vadim Iosub.

Украинцы массово избавляются от валюты: что происходит?