More than a third of Ukrainian bank deposits are held in foreign currency, despite their lower profitability.

According to the NBU, as of April 1 ₴1.392T was held in banks and protected by the Deposit Guarantee Fund (DGF). Since the start of the year, this amount has hardly changed (+₴0.6B). Meanwhile, in 60 banks participating in the DGF, there were 70.4 million deposits from citizens and individual entrepreneurs, with more than a third of these deposits (35.9%) denominated in dollars and euros. However, most deposits are in the national currency: 60 million deposits totaling ₴892.8B (-₴6.7B since the beginning of the year). There were 10.4 million deposits in foreign currency amounting to ₴500B (in equivalent); this amount increased by ₴7.3B.

In April, the average rates on new hryvnia deposits for citizens were 10.6% per annum. Banks offered 1% per annum on foreign currency deposits. In April, the annual growth of the dollar exchange rate slowed to 4.8% and inflation reached 15.1%, which together have ceased to ensure the profitability of these deposits.