In May, banks imported smallest amount of foreign currency in cash since August 2023

Banks reduced cash currency imports by 28% to the equivalent of USD 531.197 million in May, the lowest volume since August 2023.

This is according to data from the National Bank, the Ukrainian News agency reports.

Specifically, banks imported USD 355.840 million in cash, which is 13% less than in April.

The equivalent of USD 169.004 million in cash euros was imported, which is 47% less than the previous month.

The equivalent of USD 4.574 million in bank metals was imported, which is 37% more than the previous month.

As a reminder, the National Bank is considering changing the base currency for its exchange rate policy from the US dollar to the euro.

This scenario is still hypothetical, but it is driven by a number of geopolitical and economic factors.

As the Ukrainian News agency earlier reported, net currency purchases by the public in May of this year fell by 34% to the equivalent of USD 231 million. This is the lowest volume of currency purchased so far this year.