Interest rates on deposits in the national currency are rising in Ukraine.

In June, after the NBU announced the possibility of lowering the key policy rate, rates on retail deposits of various maturities continued to grow. The weighted average rate on new consumer deposits in hryvnia reached 14.2%, the NBU noted.

Therefore, improvement on the term structure for bank deposits continues for the second quarter. In the first six months of 2023, the volume growth of consumer deposits in hryvnia was 23.3%, and their share in the total portfolio increased by 4.3%.

At the same time, the demand for foreign currency decreased, evidenced by the significant strengthening of the hryvnia cash rate and its long-term stabilization at a level close to the official rate.

Note that in January-March 2023, the average return of 12-month individual deposits increased to 13.9% per annum and three-month deposits to 12.4% per annum.