Ukrainians continue to actively carry out transactions with currency, as evidenced by the latest data from the National Bank of Ukraine. The volume of purchases exceeded the record of the last ten years.
In October 2023, the population of Ukraine sold currency to commercial banks for 1,590 billion dollars and bought currency for 2.330 billion dollars. The net purchase of currency amounted to 739.4 million dollars.
War and dollars
These figures show that in October, Ukrainians bought the maximum amount of currency in the last ten years. Compared to previous years, more currency was purchased only in February 2014, when the figure was 782.5 million dollars. At that time, it was also caused by growing anxiety among the population against the background of political events and the war in Donetsk and Luhansk regions.
It should be noted that most of the currency (359.3 million dollars) was bought by the population in non-cash form.
The final data from the beginning of 2023 are also impressive: Ukrainians sold 15.053 billion dollars and bought 18.198 billion dollars. Net currency purchases were 3.145 billion dollars.
Prices rise – the dollar falls
It is well known that at the end of August, the National Bank of Ukraine decided to allow banks to sell non-cash currency to the population in the amount of up to 50 thousand hryvnias without additional obligations. This caused the decrease of the exchange rate to 38 hryvnias. Currently, banks sell currency online at the approximate rate of 37.50 hryvnias per dollar.
It is important to remember that at the end of 2022, the population of Ukraine sold currency for 14,461.4 billion dollars and bought currency for 15,341.5 billion dollars. The net purchase was 880.1 million dollars.
These indicators show a high demand for foreign currency among the population of Ukraine and confirm the activity of citizens in carrying out transactions with the dollar. Researchers believe this trend has its justification in various economic and financial factors that affect the hryvnia exchange and the financial behavior of citizens.
