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13
January
2023

Money supply in Ukraine grows by 21%, base by 19.6% in 2022 – NBU

KYIV. Jan 13 (Interfax-Ukraine) – The money supply in Ukraine (aggregate M3), after growing by 12% in 2021, last year increased by another 21%, or by UAH 435.2 billion, to UAH 2.507 trillion, the National Bank of Ukraine (NBU) has reported.

According to its data, deposits over the past year increased by 23.6%, or by UAH 350.8 billion, to UAH 1.839 trillion.

Hryvnia deposits rose by 19.1%, or by UAH 193.9 billion, to UAH 1.208 trillion, while foreign currency deposits (in hryvnia equivalent) grew by 33.1%, or by UAH 156.9 billion, to UAH 631 billion with a rise in price of the U.S. dollar at the official exchange rate by 34.1%.

The NBU said that the monetary base (reserve funds) in 2022 increased 19.6%, or by UAH 130 billion, to UAH 794.5 billion, while in 2021 its growth was 11.2%.

At the same time, cash in circulation outside banks (M0) over the past year grew by 14.6%, or by UAH 85.1 billion, to UAH 666.1 billion, which is only slightly higher than their growth rate in 2021 – 12.5%.

Reserve money of banks in 2022 jumped by 55.1%, or by UAH 44.9 billion, to UAH 126.4 billion: funds on correspondent accounts increased from UAH 34.9 billion to UAH 77.4 billion (including required reserves – from UAH 51.9 billion to UAH 69.8 billion), and cash at the box office – from UAH 46.6 billion to UAH 49.0 billion.

Banks over the past year also increased investments in certificates of deposit from UAH 212.9 billion to a record UAH 457.5 billion.

The volume of loans last year fell by 3.8%, or by UAH 39.1 billion, to UAH 989.8 billion. At the same time, loans in hryvnias decreased by UAH 13.4 billion, to UAH 724.0 billion, while loans in foreign currencies fell by UAH 25.7 billion, to UAH 265.8 billion.