Money transfers to Ukraine: the National Bank recorded a surge in receipts

31 December 2021, 20:18 | Economy
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The volume of money transfers to Ukraine from other countries in November reached $ 1,449 million. Accordingly, remittances increased by 35.9% compared to November 2020 ($ 1,085 million). This is evidenced by the data of the National Bank.

Following the results of eleven months of 2021, Ukraine received $ 13.922 million, which is 29.1% more than a year earlier ($ 10.787 million).

In addition, remittances to Ukraine in January-November exceeded receipts for the entire 2020 ($ 11,980 million).

The NBU took into account in its statistics both official and unofficial channels for the receipt of money in Ukraine.

In January-November 2021, $ 6,574 million was transferred to Ukraine through informal channels, which is $ 2,419 million more than in the same period a year earlier ($ 4,155 million).

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Formerly ZT. UA reported that the demand for the currency was mainly formed by non-residents who received redemption on hryvnia bonds and converted the hryvnia into a dollar in order to then withdraw these funds. To smooth out fluctuations in the foreign exchange market, the NBU sold about $ 150 million from reserves, but this was not enough to strengthen the hryvnia.




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