Money base in Ukraine up 6.3% in April, supply - 3.3%
KYIV. May 8 (Interfax) - The monetary base in Ukraine in April 2008
increased by 6.3% to 145 billion hryvni (a 2.2% increase in the first
four months), while the money supply increased by 3.3% to 429.9 billion
hryvni (up 8.5%), according to a posting on the National Bank of
Ukraine's web site.
"The weightiest increase in the structure of the monetary base was
cash outside the banks, which increased 5.7% to 116.1 billion hryvni
(and 4.5% since the beginning of the year)," the statement says.
The increase was largely a result of social transfer payments, paid
to individuals as salaries, pensions and other income payments.
"The volume of government funds in the national currency on
National Bank accounts in April declined by 3.2 billion hryvni. The
approach of the long holiday weekends, traditionally a time of higher
demand for cash, has also been a factor," the statement says.
The amount in correspondent accounts increased 7.8% to 16.7 billion
hryvni (down 2.5% in the first four months).
Funds in required reserves, formed by the banks in April, totaled
11.0893 billion hryvni.
The volume of bank loans increased 2.9% to 494.8 billion hryvni (up
15.9% since the beginning of the year). Loans to individuals increased
1.9% to 308.9 billion hryvni (up 13.8%) and loans to corporate clients
increased 4.5% to 186 billion hryvni (up 19.6%).
Total bank deposits in Ukraine increased 2.5% to 309.1 billion
hryvni (10.3%), including a 3.8% increase in deposits from individuals
to 187.1 billion hryvni (up 13.8% since the beginning of the year) and
an increase of 0.5% in deposits from corporate clients to 121.9 billion
hryvni (up 5.4%).
Deposits in foreign currencies increased 4.4% compared with a 1.5%
increase in deposits in the national currency, although among
individuals, growth in deposits in the national currency (5.1%) exceeded
growth in deposits in foreign currencies (1.8%).
The official exchange rate on May 8 was 5.05 hryvni/$1.
jh
(Our editorial staff can be reached at eng.editors@interfax.ru)
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