The National Bank of Ukraine (NBU) has increased from UAH 50,000 to UAH 100,000 (equivalent) the monthly limit on the purchase of non-cash foreign currency by citizens with subsequent placement on an irrevocable deposit for at least three months.
“Such changes will further reorient the demand of the population from foreign cash to non-cash, because transactions for the sale of non-cash currency by banks are carried out at a rate closer to the official than for the sale of cash, more convenient and safer,” the NBU website said on Friday.
As reported, with the outbreak of war on February 24, the National Bank banned the sale of non-cash currency to citizens, and on July 21 partially allowed it – up to UAH 50,000 per month on an irrevocable deposit of three months.
Dynamics of changes in discount rate of NBU
NBU
Net sales of dollars by the National Bank of Ukraine rose to $510.7 million last week compared to $475.0 million a week earlier and $231.4 million two weeks earlier.
According to the information of the National Bank on its website, from August 12 to September 16, it purchased $17.5 million, which is 2.5 times more than the previous week, but sold $528.2 million compared to $482 million a week earlier.
This week, on the cash market, the hryvnia again weakened by about 50 kopecks, and its rate came close to the level of UAH 42/$1, while the official rate of UAH 36.57/$1 was fixed since July 21.
As reported, in August the volume of interventions of the National Bank in the market increased slightly – to $1.33 billion from $1.2 billion in July, but still remained much less than in June ($3.96 billion), May ($3.4 billion) and April ($2.2 billion).
Finance Minister Serhiy Marchenko said that in August the volume of foreign aid to Ukraine amounted to a record $4.6 billion since the beginning of the war, compared with $1.7 billion in July and $4.4 billion in June.
In general, from the beginning of the year to September 16 inclusive, the NBU purchased $3 billion 114.2 million and EUR111.0 million on the market, and sold $17 billion 862.8 million and EUR1 billion 789.1 million.
Including since the beginning of the war, the purchase of foreign currency has reached $2 billion 457.3 million and EUR111.0 million, and the sale – $14 billion 92.6 million and EUR1 billion 789.1 million.
The international reserves of Ukraine as of September 1, 2022, according to the NBU, amounted to $25.436 billion (in equivalent), which is 13.6% or $2.679 billion more than at the beginning of August. In July, the fall in reserves amounted to 1.6%, or $371.5 million, in June – 9.3%, or $2 billion 343.8 million.
The state-owned Ukrgasbank (Kyiv) repaid ahead of schedule UAH 1 billion of refinancing received from the National Bank of Ukraine (NBU) this year, the bank’s press service reported on Tuesday.
“On August 30, the state-owned Ukrgasbank made an early repayment of a refinancing loan in the amount of UAH 1 billion received from the NBU this year. The repayment was due to the positive dynamics of attracting funds from legal entities and individuals in August this year,” the report says.
JSB “Ukrgasbank” was founded in 1993. The state, represented by the Ministry of Finance, owns 94.94% of the shares of the financial institution.
According to the data of the National Bank of Ukraine, as of July 1, 2022, Ukrgasbank ranked 5th (UAH 139.671 billion) in terms of total assets among 68 banks operating in the country.
The profit of Ukrainian banks in January-July 2022 decreased by 10.8 times – to UAH 3.4 billion, the press service of the National Bank of Ukraine (NBU) reported on Tuesday.
According to the regulator, the income of banks for 7 months of this year increased by 26% against the figure for the same period last year – up to UAH 189.082 billion. Including commission income increased by 20.5% to UAH 112.374 billion.
At the same time, the result from the revaluation and from purchase and sale operations was positive and amounted to UAH 27.214 billion, while for the same period last year it was negative and amounted to UAH 409 billion.
At the same time, the expenses of the banking system in January-July 2022 increased by 1.68 times compared to this indicator in 2021 – up to UAH 185.675 billion, including deductions to reserves – by 12.3 times, up to UAH 73.56 billion . At the same time, fee and commission expenses increased by 1.87% to UAH 18.8 billion,
As reported, Ukrainian banks doubled their net profit in 2021 to UAH 77.5 billion compared to UAH 41.3 billion in 2020.
