Since the war began, Ukrainian banks have exported more than $720M worth of currency and metals and imported $10.4B.

In particular, through August, banks exported more than $537M in cash abroad, NBU statistics show. Most likely, the banks exported the cash to exchange abroad for electronic currency. Perhaps these are transactions for the exchange of worn bills. In other words, it is not about “washing” the dollar out of the economy.

As for the euro, the volumes are incomparably smaller. So, since the war began through August of this year, banks exported euros worth $178.27M. Banks last exported precious metals in February 2022, for $5.1M. At the same time, more than $9.23B in cash was imported during the mentioned period. In relation to the euro, the volumes are several times smaller, at $1.164B.

Imports of precious metals to Ukraine have increased. Metals worth $78.8M entered the state through banks.