Ukrainians withdraw more than $100 million from banks for month, - National Bank

Source : 112 Ukraine

The daily dynamics of deposits in hryvnias show little difference from the profiles of previous periods
14:58, 6 April 2020

Open source

In March 2020, public balances with the Ukrainian banks decreased by 2.752 billion hryvnias (nearly 100,5 million dollars) (-0.8%) and by 19 million dollars (-0.2%). It is reported by the National Bank's Expert Platform on Facebook.

According to the experts, the decision of the National Bank of Ukraine not to impose any restrictions on the financial market contributed to the resumption of inflows.

Operational monitoring, conducted by the National Bank, shows that the reduction of balances on individuals' accounts stopped altogether after March 25.

Related: Ukraine’s National Bank transfers $1,5 billion in profit to state budget

In the last 7 days of March, national currency deposits have even grown by four billion hryvnias (146 million dollars) (+ 1.2%).

"The situation is significantly different from the acute phases of previous crises. In particular, only in August 2014, the reduction of balances of natural persons in national currency amounted to 1.44% and in foreign currency - to 3.11%," the statement said.

As we reported earlier, Ukraine's Cabinet of Ministers released a refreshed macroeconomic forecast, in which this year's inflation rate was increased. In the previous forecast, the index was 5.6; in the new one, it is 11.6 percent.

Related: IMF expects Ukraine to adopt law on banks and changes to 2020 budget

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