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Friday, August 23, 2019

Ukraine's money market shows signs of stability in May

The National Bank of Ukraine (NBU) recently said that despite upheaval in the eastern part of the country, the money market showed signs of stability in May.

Household deposits increased by $110 million, or 0.7 percent, though the figure does not include some parts of the east and the south. The NBU said it did not have data from banks in Crimea, Sevastopol, Donetsk and Luhansk.

Business deposits were also higher, up $314 million--or 2.3 percent--across the country, according to the NBU.

The NBU said the latest developments signal growing confidence in the banking system and the national currency as a result of the bank's efforts to secure stability and liquidity.