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Posted On

08
September
2022

NBU: forex liquidity of banks up by 22% since start of war, to $7.2 bln

KYIV. Sept 8 (Interfax-Ukraine) – Banks’ foreign currency liquidity has increased by 22% since the beginning of the war, to $7.2 billion from $5.9 billion before Russia’s military invasion of Ukraine, Deputy Governor of the National Bank of Ukraine (NBU) Yuriy Heletiy said.

"Banks have a significant reserve of non-cash foreign exchange liquidity. I look at the statistics and it is clear that at the beginning of the war it amounted to $5.9 billion, now it is $7.2 billion," he said at a regulator’s press briefing on Thursday.

At the same time, Heletiy noted that there are logistical problems with the delivery of currency to the country, since previously it could be quickly transported by air, but now it has to be delivered by land, which affected the volume of transportation and timing.

The NBU stressed that the speed of recovery of the Ukrainian economy and the return of inflation to a slowdown trajectory largely depend on the timing of the end of the active phase of the war.