The population began to withdraw from banks the currency purchased for deposit
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In the first quarter of 2023, the population’s foreign currency deposits in banks grew by 4.3% due to the active growth of time deposits by 13%. RBC-Ukraine writes about this with reference to the Banking Sector Review of the NBU.
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Funds of the population in foreign currency
“This dynamic was facilitated by the purchase of foreign currency with a deposit. About a third of new deposits were formed with this instrument,” the message says.
According to the NBU, the increase of funds was most actively observed in January-February, then the trend slowed down, “and in April, it turned in the opposite direction.”
Read: The yield on deposits is growing: what are the maximum rates banks are willing to offer
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Source: Ministry of Finance
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