31 July 2020, Friday, 12:52 146

Amount Of Cash In Circulation Up 14.4% To UAH 486.3 Billion In H1

Даша Зубкова

In the first half of 2020, the volume of cash in circulation increased by 14.4% year over year to UAH 486 billion.

This is evidenced by the data of the National Bank of Ukraine (NBU), Ukrainian News Agency reports.

As of July 1, 2020, Ukraine's cash turnover contained funds in the amount of UAH 486.3 billion, in particular, banknotes - UAH 483.4 billion (2.96 billion pieces) and coins - UAH 2.8 billion (13.4 billion pieces).

In the year to date, the volume of cash in circulation has increased by 14.4% (by UAH 61.2 billion) compared to a 1.6% decrease (by UAH 6.4 billion) over the same period last year.

This is due to the situation created by the spread of the coronavirus and the quarantine restrictions introduced to combat it.

In Ukraine, after the introduction of quarantine, cash is delayed longer in circulation.

The situation could be influenced, in particular, by the following factors: during the quarantine, citizens consumed less goods and services; increased demand for cash, including "just in case".

This increase in demand for cash has occurred in other countries where quarantine restrictions were introduced.

Besides, social protection has been strengthened and government payments have increased to support the population, including pensioners who mostly prefer cash.

Consequently, there are 71 banknotes for one Ukrainian, and 185 banknotes for change and circulating coins, which are a means of payment (at the beginning of the year - 70 banknotes and 182 coins, respectively).

Besides, there are already about UAH 34 million banknotes in circulation with denomination of UAH 1,000, as well as 16.5 and 1.3 million new circulating coins with denominations of UAH 5 and UAH 10, respectively.

At the same time, 200 hryvnia banknotes (almost 23.2% of the total number of banknotes in circulation) and 10 kopeck coins (about 28.9% of the total number of coins in circulation) are in cash circulation most of all, as before.

As Ukrainian News Agency earlier reported, there were 2.8 billion banknotes and 13.4 billion coins in cash circulation in Ukraine as of April 1.

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