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Population in March 2023 cuts net purchase of foreign currency to $424 mln – NBU
KYIV. April 5 (Interfax-Ukraine) – The volume of purchases of foreign currency by the population of Ukraine in March 2023 exceeded the volume of its sale by $424.4 million compared to $531.9 million in February and $564.0 million in January, this indicator has been decreasing for the second month in a row after six months of continuous growth, the National Bank of Ukraine (NBU) said.
According to the information on its website, two-thirds of the net purchase is again formed on the cash market, while in January-February the main contribution was made by the non-cash market.
Strengthening of the hryvnia exchange rate in the cash market by UAH 1.15 in February, and in March from UAH 39/$1 to UAH 37.25/$1 today at the official exchange rate of UAH 36.57/$1 sharply reduced interest in buying non-cash currency through its placement on deposit for at least three months.
As a result, in March, the volume of purchases of non-cash currency decreased to $300.4 million from $462.1 million in February and $523.9 million in January.
The volume of sales of non-cash currency by the population last month, on the contrary, slightly increased – to $153.3 million from $123.1 million in February, returning to the level of January.
As for cash currency, its purchase and sale increased compared to February: purchase – from $1.185 billion to $1.512 billion, and sale – from $1.082 billion to $1.235 billion.
In accordance with these data from the NBU, the turnover on the official cash foreign exchange market in March of this year was a record since the beginning of the war, exceeding the figure of March 2022 by 19 times.
The volume of transactions with non-cash currency in March, on the contrary, fell to the level of September, when the limit on the purchase of foreign currency for a three-month deposit was still half as much – UAH 50,000.
