The Currency Deposits of Ukrainians Have Sharply Decreased: Reasons Identified

According to hvylya.net: Ukrainians have been explained why they currently prefer the hryvnia over the dollar and euro. According to 'Minfin', currency deposits of individuals in our banks are relentlessly decreasing - from 474 billion UAH in the second quarter to 446 billion UAH in the third. What do experts say about this? Let's break it down.

The Hryvnia in a Better Light

The National Bank is taking care to keep the hryvnia in good shape - a stable discount rate that allows banks to offer attractive terms for saving money, and an exchange rate that is maintained at the same position. So, embroidered shirts, sausages, and living rooms don’t suffer, even if the hryvnia is no longer what it used to be.

Mathematics for Everyone

The director of Globus Bank states: a hryvnia deposit of 20,000 UAH at 14.5% per year will bring approximately 2,079 UAH of net income after taxes. That's good, isn’t it?

Meanwhile, the dollar option brings you much less because the interest rates are worse. Isn’t it a pity to lose? But that’s how it is.

And a Few More Factors

When the choice is already made, where does that money go? Well, you can’t avoid the outflow of funds into other currencies or for foreign purchases. Also, migration has a good impact, and the purchase of foreign equipment adds to it. The dollar in September is very unstable, but oddly enough, nothing has changed in relation to currency deposits.

What do we get in the end? Most hryvnia deposits - for us, it is more profitable and reliable in our native country. So, hryvnia, keep your positions further!