NBU recorded a turning point in the currency market: what is happening.

The National Bank of Ukraine reported that demand for currency among Ukrainians has changed.

Deputy Chairman of the Board of the National Bank of Ukraine Yuriy Geletiy stated at a briefing that currently Ukrainian households have reduced their demand for currency, and the supply of currency on the cash market exceeds demand.

We have significantly reduced household activity. We are currently observing even a net supply in recent days.

Geletiy reported that in April, daily demand for cash currency decreased to 17 million dollars, which is significantly less than in March - 31 million and February - 41 million dollars.

The supply of currency on the non-cash market also increased to 240 million dollars per day in March, compared to 213 million in February, respectively, and demand for currency also increased.

Geletiy emphasized that the hryvnia has appreciated against the dollar during March and April.

Moreover, he noted that the National Bank closely monitors the situation on global financial markets, where tariff confrontations have led to increased volatility and a weakening of the dollar against the euro.

Despite the appreciation in the hryvnia-dollar pair, given that the dollar is the main currency, the exchange rate of the hryvnia against the euro and other currencies declines due to cross-rates.

Data from the National Bank shows that in March, currency purchases by the population decreased to 720 million dollars from 958 million in February and 1.48 billion in January.

It was previously reported that Ukrainians suddenly lost interest in the dollar.

Analysis:

According to the data from the National Bank, demand for currency among Ukrainian households has significantly decreased. A particularly noticeable decline occurred in April, when the daily demand for cash currency stood at only 17 million dollars. During the same period, the supply of currency on the cash market even exceeds demand. A significant increase in currency supply on the non-cash market also indicates reduced demand for currency among the population.

Furthermore, there is an appreciation of the hryvnia against the dollar, which may be related to changes in the situation on global financial markets and the weakening of the dollar against the euro. The National Bank closely monitors these changes and emphasizes that the exchange rate of the hryvnia to the euro and other currencies is calculated based on cross-rates.

In general, there is a decreasing interest among Ukrainians in currency, which affects changes in the currency market of the country.