According to the National Bank of Ukraine, citizens purchased $2.066 billion in foreign currency (cash and non-cash) and sold $1.877 billion. The net purchase for the month totaled $189.5 million.
Dollar Purchases Plunge to 8-Month Low
April saw a dramatic 73.7% decrease in dollar purchases compared to March 2025. This drop pushed the total to levels unseen since August 2023, when the monthly dollar purchase stood at just $148.5 million.
Since the start of 2025, Ukrainians have spent $3.347 billion on foreign currency purchases.
A Shift in Sentiment: More Dollars Sold Than Bought
In mid-April, for the first time in eight months, Ukrainian citizens sold more currency than they purchased, indicating a potential shift in financial behavior and sentiment amid ongoing geopolitical and economic uncertainty.
Exchange Rate Dynamics in April 2025
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Cash market rate: The USD/UAH rate climbed from 41.5 to 41.75 by month-end.
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Interbank rate: Increased by 10 kopecks to 41.50 UAH/USD.
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Official exchange rate: Fluctuated between 41.08 and 41.75 UAH/USD, with a 9-kopek increase over the month — marking the first monthly rise in 2025.
Forecast and Global Context
According to recent forecasts, Trump's economic decisions could lead to a weakening of the dollar against the euro, which may further influence the UAH/USD rate.
On May 2, market indicators revealed:
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The dollar continued to strengthen in Ukrainian exchange offices.
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The euro slightly declined, reflecting broader fluctuations in global currency markets.
Conclusion
April 2025 signaled a potential turning point in Ukraine’s currency landscape. With demand dropping and citizens becoming more inclined to sell rather than buy foreign currency, the market may be adjusting to new economic expectations and monetary strategies.
