NBU Explains How In March Population Bought USD 5.3 Million More Currencies Than It Sold

The National Bank explained how the population bought USD 5.3 million more in currencies than it sold in March.

This was reported to the Ukrainian News Agency by the press service of the NBU.

Earlier, the NBU said that in March, Ukrainians sold USD 72 million in currencies in equivalent, and bought USD 77.3 million in equivalent.

Thus, the population bought currencies more than it sold.

The National Bank clarified in a commentary to the agency that on March 8, 2022, it allowed banks to sell cash foreign currency to customers in bank branches located in territories under threat of occupation by Russia (if there is cash in foreign currency/bank metals at the cash desk in the bank branch).

The decision to carry out such operations was made by the head of the bank and could be delegated to the head of the branch of the bank.

The regulator recalled that since April 14, it has allowed banks to sell cash foreign currency to the population.

In order to avoid pressure on the foreign exchange market, the NBU provided that an authorized institution can sell cash currency to customers within the difference between the total volumes of foreign currency it bought and sold.

This difference will be calculated starting April 13, 2022.

As Ukrainian News Agency earlier reported, at the end of 2021, the population sold USD 1,214,7 million more than it bought.

At the end of 2020, the volume of cash currency sales exceeded the purchase volume by USD 1.098 billion.

In 2019, the population sold USD 177 million more currencies than it bought.

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