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Ukraine to reduce cash hryvnia production

Posted by the Editor on August 31, 2012


News / 31 August 2012 | 17:00

Ukraine to reduce cash hryvnia production

Ukraine to reduce cash hryvnia production

Ukrainian cash turnover is decreasing, deputy chairman of the head of the National Bank Vira Rychakivska told a press conference, ForUm correspondent reports.

“This year, the growth rate of cash payments is reducing. Compared to the previous year, it amounted minus 2.2%,” Rychakivska said.

She also reminded that during the crisis of 2009-2010, the growth rate of cash was at the level of 17%. “This trend is observed not only in Ukraine, but also in other countries with developed market economy,” Rychakivska added.

In her opinion, the reason for this was a fear to conduct non-cash payments during the economic crisis. “As a number of cash payments is reducing, we have reduced the production of notes,” she said.

ForUm

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