In 2023, the amount of cash in circulation in Ukraine increased by 6.7%, or UAH 48.3 billion, and as of January 1, 2024, amounted to UAH 764.4 billion.
This is stated in the data of the National Bank, Ukrainian News Agency reports.
However, the growth rate of cash in circulation in 2023 was half that of 2022.
In 2022, this figure increased by 14.1%, which is explained by the high level of uncertainty of business and the population caused by the beginning of a full-scale war and missile terror.
At the beginning of this year, 2.7 billion banknotes totaling UAH 757.5 billion are in cash circulation, as well as 14.5 billion coins (without commemorative and investment) worth UAH 6.7 billion.
One resident of Ukraine at the beginning of this year accounted for: 66 banknotes and 177 payment exchange and circulation coins (as of January 1, 2023 - 71 and 169 pieces, respectively).
The most in circulation are banknotes with a face value of UAH 500, and coins with a face value of 10 kopecks (28.3% and 28.2% of the total number in circulation, respectively).
The least in cash circulation are banknotes with a face value of UAH 50, and coins with a face value of UAH 10 (4.6% and 1.4% of the total number in circulation, respectively).
The dynamics of the volume of coins in circulation shows that the largest growth rate in 2023 falls for UAH 10 coins.
Their number in circulation increased by 54.2% compared to the beginning of 2023.
Also, the number of circulation coins with a face value of UAH 5, UAH 2 and UAH 1 increased significantly - by 42.5%, 15.5% and 8.4%, respectively.
This trend is explained by the fact that the NBU carries out the gradual withdrawal from circulation of banknotes with a face value of UAH 1, UAH 2, UAH 5 and UAH 10, replacing them with the corresponding coins that can be in circulation for a much longer time.
Most of all, over the past year, the number of coins with a face value of 25 kopecks decreased in cash circulation, their number decreased by 0.5% compared to the beginning of 2023, which is due to the withdrawal of these non-payment coins from circulation.
Among banknotes, for 2023, UAH 1,000 banknotes showed the largest increase, their number increased by 62.3%, compared with the beginning of last year.
This is one of the consequences of a full-scale invasion, because due the war, people prefer to keep savings in the banknotes of higher denominations.
At the same time, among the banknotes that support cash circulation, the largest reduction in the number falls on banknotes with a face value of UAH 100 and UAH 200, the number of which in circulation last year decreased by 26.4% and 25.7%, respectively (due to active replacement with banknotes with a face value of 1,000).
Also, the number of banknotes with a face value of UAH 10 and UAH 5 decreased significantly (by 21% and 15.1%, respectively), since, as already noted, they are gradually withdrawn from circulation and replaced with appropriate coins.
As Ukrainian News Agency earlier reported, as of January 1, 2023, more than 2.9 billion banknotes totaling UAH 710.5 billion were in circulation, as well as almost 14.2 billion coins (without commemorative and investment) 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).
Who we are: About us, Contacts. How we write news and our principles: Editorial code. We did our best. If you found this valuable – please support us.
To request a correction, please send an email.