Ukrainians sell more foreign cash than buy in July

Ukrainians sold foreign currency for USD 32.2 mln net to commercial banks in July (USD 67.8 mln in June), the National Bank of Ukraine reported on its website. In particular, they purchased foreign currency in the equivalent of USD 1,662 mln and sold the equivalent of USD 1,695 mln in July.

Alexander Paraschiy: The data confirms that devaluation expectations remain low among Ukrainians so far. The same year-ago month, individual demand for foreign cash was much higher, nearly USD 810 mln. Still, individual demand for foreign cash strengthens every September. So we anticipate Ukrainians to start buying more foreign cash than selling through the autumn months, with net monthly individual purchases at nearly USD 500 mln on average.