The incident with the seizure of cash transport vehicles of Oschadbank in Hungary will not lead to a shortage of cash currency in Ukraine. At the same time, experts warn about possible logistical difficulties in supplying cash for banks. This is reported by UNIAN.
The currency market of Ukraine after the Oschadbank incident
According to financial analyst of the investment group ICU Mykhailo Demkiv, the total amount of seized valuables is nearly $100 million equivalent. This concerns cash and gold being transported by bank employees.
In particular, the armored vehicles contained:
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$40 million;
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€35 million;
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9 kilograms of gold.
The expert emphasized that this sum is significant but not critical for the currency market. For comparison, only in February, the population purchased cash currency for approximately $500 million.
Thanks to the support of the National Bank and the replenishment of cash reserves of commercial banks, a currency deficit is currently not expected.
The incident with cash transport vehicles affected cash logistics
The director of the financial markets department of Globus Bank Taras Lesovyi noted that the seized funds could meet the demand of the cash market for about 7-10 days.
However, the National Bank responded promptly and conducted an operation to exchange non-cash currency for cash to support the banking system.
According to the banker, this allowed avoiding an artificial deficit and stabilizing the currency market. At the same time, the incident may create temporary difficulties with cash supply logistics from abroad.
It should be noted that on March 5, seven employees of Oschadbank were detained in Hungary while transporting funds between banks in Austria and Ukraine. They were later released, however, the vehicles and valuables remain detained.