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The Ukrainians Became Pooper on 120 Million Dollars

The Ukrainians Became Pooper on 120 Million Dollars

Net sale of cash currency by the population in April, 2013 made 118 million dollars, while in March of the current year net purchase made 3 million dollars. Site of National Bank of Ukraine (NBU) reports about it. In comparison with last year volumes of daily purchase-sale of currency by the population of Ukraine was reduced by third. Thus in April the Ukrainians for the first time for 4 years sold more dollars, than bought.

According to the information provided, the volume of operations with cash foreign currency in the interbank currency market of Ukraine made 3,026 billion dollars (in equivalent), including purchase of currency in the amount 1.572 billion dollars and sale of 1,454 billion dollars by banks from population. Bank deposits of physical persons in currency (in dollar equivalent) in April decreased on 5,4 million dollars and as of May 1, 2013 made 22,377 billion dollars. It’s also reported that in April the volume of operations with non-cash foreign currency in the interbank currency market of Ukraine (purchase and sale in dollar equivalent) made 47,897 billion dollars (taking into account State treasury operations). National Bank sold in the interbank currency market (in equivalent) 233,6 million dollars (180 million euros) and the volume of purchase of currency made 40 million dollars.

Let's remind, National Bank managed to bring down demand of the population for currency purchase thanks to conversations on introduction of new 15% taxes on sale of foreign currency by individuals. Then in NBU declared that volumes of currency surrender by population in banks grew by 50%.

In April-2013 for the first time for last four years since May-2009 the population sold more foreign currency to banks, than bought: the volume of sale exceeded purchase volume on $120 million.


From editorial board: Let speak honestly - purchase and storage of dollars and Euro in Ukraine (as well as in the Russian Federation) is a form of preservation of savings. Currency sale by the population can testify either of loss of trust by citizens to this instrument of money saving, or of reduction of savings.

No sharp dynamics of strengthening of the national Ukrainian currency in relation to world currencies was recorded for last year, moreover, as a whole hryvna weakened a little in relation to dollar and Euro. There are no reasons to quit currency savings. The Ukrainians became evidently poorer.

Data on unemployment correlates with this statement - unemployment rate grew by 0,1 percentage points up to 2,1% in Ukraine in February in comparison to January. Public service of statistics (there is no fresher data) reports about it. According to Gosstat, in February, 2013 589,1 thousand unemployed (564,5 in January, 2013 and 506,8 thousand in December, 2012) were registered in Public service of employment, 469,1 thousand (435,8 thousand in January, 2013 and 386,3 thousand in December, 2012) from them drew unemployment benefit. Average size of the benefit per one unemployed in February, 2013 made 1069 thousand hryvnas (1089 - in January, 2013 and 1028 hryvnas - in December, 2012). For January unemployment rate rose by 0,2% at once. In December the tendency was similar.

Statistics shows insignificant growth of average and minimum salaries (3200 and 1218 UAH respectively) against growth of a living wage which is equal to the minimum size of the salary. It is clear that one can’t speak about savings at average salary in 400 dollars and minimum in 150. The policy of National Bank directed on cadging of the last currency remains from the population only illustrates relation of the state to welfare of citizens.


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