Ukrainians reduce cash withdrawals abroad 5 times

Ukrainians have reduced cash withdrawals abroad 5.1 times since the beginning of this year.

The NBU informed Ukrainian News Agency about this.

Thus, according to the data of the regulator, in January of this year, Ukrainians conducted 3.58 million cash withdrawal operations abroad for the equivalent of UAH 27,458.63 million.

In February, these indicators decreased to 3.36 million transactions for UAH 26,219.13 million, respectively, and in March they collapsed to 1.3 million transactions for UAH 9,328.76 million.

In April of this year, the reduction continued, Ukrainians conducted 0.89 million cash withdrawal operations for the amount of UAH 6,057.08 million, in May these figures amounted to 0.9 million operations for UAH 6,038.79 million, respectively.

The reduction continued in the summer, and in September Ukrainians withdrew UAH 5,386.6 million, which is 5.09 times less than in January.

Previously, the NBU noted that the return of migrants to Ukraine began during the third quarter of 2023, but it was less than expected.

According to the UN, the number of migrants outside Ukraine decreased to 6.2 million at the end of September 2023 (from 6.3 million in June 2023), and the State Border Guard Service reported the return of about 100,000 migrants during August.

The number of migrants may increase slightly by the end of the current year: due to the increased risks of attacks on the energy infrastructure, some citizens are likely to spend the heating season abroad.

As a result, according to estimates, the number of migrants at the end of 2023 will be greater than at the end of 2022 (by approximately 200,000 people).

As Ukrainian News Agency earlier reported, in July 2022, the National Bank reduced the monthly limit on transfers of citizens abroad from hryvnia payment cards of Ukrainian banks.

So, from July 21:

- citizens, as before, will be able to withdraw UAH 50,000 (in equivalent) per month from hryvnia payment cards abroad. At the same time, the limit for cash withdrawals from hryvnia payment cards abroad has been changed from monthly to weekly: UAH 12,500 (in equivalent) for seven calendar days;
- the monthly limit on P2P transfers of citizens abroad from hryvnia payment cards of Ukrainian banks was reduced from UAH 100,000 (in equivalent) to UAH 30,000 (in equivalent);
- a monthly limit was established for payments abroad using hryvnia payment cards in the amount of UAH 100,000 (in equivalent) from all client bank accounts opened in the national currency. This restriction will not be felt by the vast majority of citizens who are abroad.