Economy 2024-05-15T05:17:32+03:00
Ukrainian news
Amount Of Cash In Circulation Up UAH 14.1 Billion To UAH 716.1 Billion Over 2022

Amount Of Cash In Circulation Up UAH 14.1 Billion To UAH 716.1 Billion Over 2022

cash in circulation, volume of cash in circulation

The amount of cash in circulation in Ukraine as of January 1, 2022, amounted to UAH 716.1 billion.

This is stated in the message of the National Bank, Ukrainian News Agency reports.

In particular, over 2.9 billion banknotes totaling UAH 710.5 billion were in circulation, as well as almost 14.2 billion coins (not including commemorative and investment coins) worth UAH 5.5 billion.

This is UAH 88.5 billion, or 14.1% more than a year ago (as of January 1, 2022, the amount of cash in circulation amounted to UAH 627.6 billion).

During 2022, the amount of cash in circulation fluctuated significantly - both its growth and reduction occurred.

It is noted that such uneven dynamics is due to the full-scale invasion of the Russian Federation in Ukraine.

So, at the beginning of a full-scale invasion, due to the uncertainty of the situation, the demand of citizens for cash increased significantly.

After all, in the early days of the war, Ukrainians were not sure whether banks would work, or whether it would be possible to pay with payment cards.

At the same time, everyone was able to quickly make sure that even despite the war, financial services work smoothly, cashless payments are carried out, so since the beginning of April, the demand for cash has begun to gradually decrease.

The second wave of cash growth in circulation began in November and was associated with massive missile attacks by Russia on the energy infrastructure of Ukraine.

The temporary absence of electricity causes interruptions in the operation of some ATMs, it causes a feeling that cash is no longer as affordable as usual.

Also, prolonged power outages lead to the disappearance of mobile communications, and this suspends the operation of pos-terminals (in most cases, pos-terminals connect to the bank precisely via mobile Internet).

The inability to pay with a payment card creates the need to have more cash with you.

All this together affects the desire of citizens to form a certain stock of cash for a long time.

Because of this, the increase in cash in circulation was observed until the end of 2022.

As of January 1 of this year, there were 71 banknotes and 169 exchange and circulation coins per resident of Ukraine (as of January 1, 2022 - 71 and 162 items. accordingly).

Traditionally, as a year ago, in cash circulation were the most coins with a face value of 10 kopecks (28.5% of the total number of coins in circulation), and the least - coins with a face value of UAH 10 (0.9%).

Among the banknotes, the least in circulation now is in denomination of UAH 10 (3.7% of the total number of banknotes in circulation), because the NBU gradually, as they wear out, replaces these banknotes with corresponding circulating coins, which can be in circulation for much longer.

A year ago, the smallest in cash circulation were banknotes with a face value of UAH 1,000 (the share is 3% as of January 1, 2022), because this is a fairly new banknote, entered into circulation only in the summer of 2019, over time the number of these banknotes gradually increases.

The largest in cash circulation is now UAH 500 banknotes (26.5% of the total number of banknotes in circulation), which is due to an increase in demand for this denomination of banknotes.

At the beginning of last year, the leader in this indicator was a banknote of UAH 200 (its share was 25.1% as of January 1, 2022).

As Ukrainian News Agency earlier reported, the National Bank urges citizens to give preference to cashless payment and without urgent need not to visit bank branches due to the increased threat of missile strikes.

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