Demand for foreign currency in Ukraine continues to decline: April saw the lowest net purchase in 8 months

In April 2025, Ukraine recorded a noticeable decline in the population's demand for foreign currency. According to updated data from the National Bank of Ukraine, citizens sold foreign currency to banks (both cash and non-cash) for $1.88 billion, while they purchased $2.07 billion.

Thus, net purchase of currency, that is, the difference between the volume of purchased and sold currency, amounted to only $189.5 million. This means that Ukrainians are still buying more dollars than they are selling, but the pace of this process has slowed significantly.

According to experts, such a low level of net purchase is the lowest in the last eight months. This indicates a gradual cooling of interest in savings in foreign currency and a certain stabilization of the foreign exchange market.

Since the beginning of 2025, Ukrainians have generally bought more currencies than they sold, amounting to $3.35 billion. However, the dynamics of recent months indicate a decrease in activity in the currency segment. This is probably due to both the stability of the hryvnia exchange rate and the general financial behavior of the population against the background of a gradual decrease in inflation expectations.

Economists also point out that restrictions on currency transactions, which are still in effect due to martial law, may have an impact on curbing currency demand. However, even under these conditions, there was previously a consistently high dollar buying activity, which is now showing a decline.

A decrease in demand for currency may be a positive signal for the country's financial market. This not only reduces pressure on the hryvnia, but may also indicate an increase in confidence in the national currency among citizens.