Ukrainians sell $1.1 bln more foreign currency than buy since early 2021

The net supply of foreign currency from the Ukrainian population has exceeded $1.1 billion since the beginning of the year, Head of the Council of the National Bank of Ukraine (NBU) Bohdan Danylyshyn has said.

"The net sale of foreign currency by the population since the beginning of May amounted to $150 million, non-cash – $61 million. Since the beginning of the year, the net sale of foreign currency by the population has exceeded $1.1 billion," he wrote on Facebook on Wednesday.

Danylyshyn said that the demand of banks' clients for foreign currency continues to dominate on the interbank FX market (net sales of foreign currency by banks to clients amounted to $11 million on average per day), which was formed in the forward segment of the market.

According to him, banks at the same time compensated for the net sale of foreign currency from the position by purchasing cash and non-cash foreign currency from individuals.

According to him, the FX reserves of the NBU as of May 26 reached $27.9 billion, which is 4%, or $1.2 billion less than at the beginning of the year, and 0.4%, or $100 million, less than at the beginning of the month.

The head of the NBU Council added that the volume of transactions of banks' clients with non-cash foreign currency, taking into account swap transactions, in April decreased 12.1% for transactions for the sale of foreign currency and by 8.5% for the purchase of foreign currency.

As reported, the net supply of foreign currency by the population of Ukraine in March amounted to $182 million, and in April it was $422 million.

Source: www.en.interfax.com.ua