In Ukraine, the amount of cash in circulation has sharply increased — as of October 1, 2025, Ukrainians hold 890.1 billion hryvnias in cash. This is 67.7 billion more than at the beginning of the year. This was reported by the National Bank of Ukraine on its Telegram channel.
Why the amount of cash has increased
In the first quarter of the year, banks withdrew some cash from circulation, but in the second and third quarters, demand increased. The NBU explained that the reasons were seasonal factors and the consequences of intensified Russian attacks, which prompted people to withdraw cash in case of prolonged power outages.
«The increase in cash volumes is related to the growing uncertainty regarding the end of the war and the risks of disruptions in banking infrastructure,» said the agency.
Which banknotes and coins dominate the circulation
Among banknotes, the most in circulation are 500-hryvnia notes — they account for over a quarter of all money (26.6%). The least are 50-hryvnia notes (4.5%). Also, during the first nine months of the year, the share of thousand-hryvnia notes has noticeably increased — they have grown by 3.6%.
As for coins, Ukrainians most often use 1-hryvnia coins, and least often — 10-hryvnia coins.
What the trend affects
The increase in cash, according to economists, is a typical reaction of the population to the threats of war. During frequent attacks or power outages, Ukrainians prefer to have reserve funds at home, as it is not always possible to use ATMs or cards.