UAH 40bn less cash in circulation in Ukraine since year started

The amount of cash in circulation in Ukraine has decreased by 5.6 percent, or UAH 40 billion, since the beginning of the year, the National Bank (NBU) announced on Wednesday.

Out of UAH 676.1 billion of cash in circulation in Ukraine, there are 2.7 billion hryvnias (banknotes) worth UAH 670.2 billion and 14.2 billion kopecks (coins) worth UAH 5.7 billion, excluding commemorative and investment coins.

The cash withdrawn from circulation in Ukraine was issued last year amid a surge in demand triggered by Russia’s full-scale invasion of Ukraine and the threat of potential blackouts due to Russian missile attacks, the NBU explains.

Per capita, there are now 66 banknotes and 170 coins in Ukraine, compared to 71 banknotes and 169 coins in the beginning of 2023.

The most popular Ukrainian cash is the 500 hryvnia note, which accounts for 27 percent of the total number of banknotes in circulation, and the 10 kopeks coin, 28.4 percent of all kopeks in Ukraine.

Conversely, the 10 hryvnia note and the 10 kopeks coin are the least popular, making up 3.7 percent and about 1 percent of banknotes and coins in circulation, respectively.