NBU: Net forex purchases by Ukraine's population in April 2025 lowest since Aug 2023

MOSCOW. May 5 (Interfax) - The volume of foreign currency purchases by the Ukrainian population exceeded the volume of foreign currency sales only by $180 million in April 2025 versus $710 million in March 2025 and $720 million in April 2024, local media said, citing data on the website of the National Bank of Ukraine (NBU).

Cash forex purchases by the population decreased by $233.8 million to around $1.721 billion in April 2025 month-on-month, while cash forex sales went up by $221 million to $1.539 billion in the reporting period.

Non-cash forex purchases fell by $44.9 million to $338.9 million, while non-cash forex sales went up by $30.7 million to $337.2 million in April.

According to the NBU, there were nine days in April when the volume of forex purchases by the population was even larger than sales, and there were 13 days with a negative balance. The NBU presents data for the period from Saturday to Monday as one-day data.

In the non-cash foreign currency market, purchases declined by $99.5 million to around $6.32 billion and sales fell by $302.1 million to $4.754 billion in April month-on-month.

The volume of inter-bank transactions also decreased by $266.2 million to $5.407 billion in April compared to March.

In April 2024, forex purchases by banks' clients grew by $465 million, while sales dropped by $96.6 million. Meanwhile, the volume of inter-bank transactions grew by $384.9 million.

In the cash forex market, the hryvnia even strengthened between April 1 and 20, edging down by the end of the month. The U.S. dollar's average monthly exchange rate gained 30 kopecks to around UAH 41.5/$1 in April 2025. The hryvnia's official exchange rate weakened by less than five kopecks to UAH 41.47/$1. Exchange rates on the cash and non-cash markets were quite similar in April, with the dollar costing even less on the cash market on a number of days.

At the same time, as the dollar plunged on the world forex market, the euro soared in Ukraine in April. Thus, the euro's official exchange rate grew by UAH 2.34 to UAH 47.17/EUR1, at one point hitting an all-time high of UAH 47.7653 during the month.

The NBU's net forex interventions declined to $2.244 billion in April 2025 from $2.608 billion in March 2025 and $2.283 billion in April 2024.