The amount of cash in circulation in Ukraine has reached another historical record. According to operational data from the National Bank of Ukraine, the monetary base increased by 1% in June to 1.247 trillion hryvnias.
The monetary base includes cash outside banks, bank reserve money and other components. Since the beginning of the year, it has grown by 6.2% from 1.174 trillion hryvnias.
Money supply also increased
Ukraine’s money supply rose by 1.1% in June to 4.141 trillion hryvnias. Since the start of the year, it has increased by 3% from 4.021 trillion hryvnias.
Cash in circulation, according to NBU operational data, grew by 0.2% in June to 914.4 billion hryvnias. Since January, the figure has risen by 5.5% from 866.9 billion hryvnias.
What the trend means
The increase reflects a wartime economy in which households and businesses continue to keep a significant liquidity buffer. Cash remains important during energy disruptions, regional risks and uncertainty over payments infrastructure.
For banks and investors, the data show that Ukraine’s financial system continues to operate under high liquidity demand. The trend also keeps attention on inflation, monetary policy and the balance between cash, deposits and digital payments.
