In June, the volume of foreign currency purchase in Ukraine amounted to 1.8627 billion US dollars, the volume of sales 1.2211 billion US dollars. Net demand for cash foreign currency increased by 21.79% to 641.6 million US dollars, according to the information-analytical center Forex Club.
() - "Growth in the demand for currency was fueled by a moderate increase in the value of the cash dollar in Ukraine," the head of the center, Mykola Ivchenko, said. According to him, despite the holding of EURO 2012, an increase in the supply of foreign currency has not happened. Foreigners during the football championship preferred bank card settlements and brought a small amount of cash with them.
It is also possible that the population of Ukraine has reduced sales of foreign currency in anticipation of the holiday season and the growth of devaluation sentiments. With increasing trade volumes in the non-cash currency market, the share of cash market in the overall structure of the foreign exchange market in June decreased from 8.4% to 7.3%, reflecting the reducing effect of the cash market on the general sentiments in the market.
According to the Forex Club forecast, the demand for cash currency in Ukraine amid growing devaluation sentiments will increase moderately. Nevertheless, the U.S. dollar value will be primarily determined by the situation in the non-cash market. In the next few months, no substantial payments on state debt in foreign currency are planned, which will restrain the cash dollar growth rate, Ivchenko said.
