The volume of imported cash in December was the highest since February 2022.
The volume of foreign currency in cash that banks imported into Ukraine in January 2023 amounted to $803.4 million. This is $170.5 million more than in December 2022, according to NBU data.
The volume of imported cash in December was the highest since February last year.
How much currency was imported into Ukraine in January 2023
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Photo: NBU
As for the export of foreign currency from the country, according to the NBU, $57.4 million was exported from Ukraine in January, which is $12 million more than in December.
How much currency was taken out of Ukraine
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Photo: NBU
Why Ukrainians, despite the war, were actively buying currency at the beginning of 2023
The net purchase of foreign currency amounted to $564 million. That is, in the first month of 2023, Ukrainians bought 100.3 million more than in December last year.
A sharp jump in demand for foreign currency began in December 2022. The NBU explained the reason: this happened due to the significant need for imports of energy carriers and electrical equipment, as evidenced by the data of the Macroeconomic and Monetary Review of the National Bank.
“The demand for currency was formed by enterprises of the fuel and energy industry, as well as banks to ensure settlements with international payment systems,” the NBU said.
Previously, Focus told whether the hryvnia would be withdrawn from circulation after Ukraine joins the European Union. We also wrote that the National Bank expanded the opportunities for insurance companies to pay insurance premiums under reinsurance agreements that were concluded with non-resident reinsurers.
