Politics 2024-03-15T05:09:19+02:00
Ukrainian news
Volume of private remittances in October down 2.9% to USD 1.1 billion

Volume of private remittances in October down 2.9% to USD 1.1 billion

remittances, October, volume, USD, down, Billion, private

 

The volume of private remittances in October decreased by 2.9% and amounted to USD 1.1 billion.

This follows from the data by the National Bank, the Ukrainian News agency reports.

Wages received by Ukrainians from abroad decreased by 26.6%, other private transfers received through official channels decreased by 15.4%.

In total, 20.7% fewer remittances were sent through official channels than in October last year, while the flow through informal channels increased by 22.4% compared to October last year.

In just ten months of 2022, the volume of remittances decreased by 3.8%, including: net wages - by 0.3%, private transfers - by 11.1%.

As the Ukrainian News agency earlier reported, in 2021, the volume of money transfers to Ukraine increased by 25.4% year over year to USD 15.026 billion.

In 2020, the volume of remittances increased by 1.7% to a record USD 12.1 billion.

On July 21, the NBU adjusted the official hryvnia exchange rate by 25% to 36.5686 UAH/USD.

From August 6, 2022, the National Bank canceled the restriction, according to which banks and non-banking institutions had to buy cash currency from the population at a rate no lower than the official one.

The National Bank allowed banks to sell more currency to the public.

Thus, from September 6, the amount of cash currency that the bank can offer to the population will include the entire amount of non-cash currency purchased by it from April 13, 2022, instead of half of it.

 

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