An analyst explained why Ukrainians are buying more euros
In May, Ukraine saw an increase in demand for euros on the cash market, while net purchases of dollars fell to their lowest level in the past 10 months. Analysts attribute this trend to changes in currency expectations and public behavior amid financial market volatility.
Ukrainians increased their purchases of the euro in May. Demand is fueled by the vacation season and planned trips to Europe, said financial analyst Andriy Shevchyshyn.
“Ahead of summer and vacations, planned trips to Europe, and the NBU’s stance on supporting the euro, Ukrainians’ interest in the single European currency is growing,” the expert wrote.
According to him, net purchases of dollars in May fell to $62.3 million, the lowest level in 10 months. Net purchases of euros, on the other hand, rose to the equivalent of $225 million in May.
At the same time, 70.5% of cash currency transactions are in dollars, while only 26% are in euros. Consequently, other currencies account for only 3.5% of cash transactions—primarily the zloty and the leu (the currencies of Ukraine’s neighbors, which effectively facilitate cross-border transactions).
“Since the beginning of 2025, Ukrainians have bought $1.48 billion more in cash euros than they sold. And $1.48 billion more in dollars. In just four months, net purchases of cash currency totaled $2.931 billion,” the analyst summarized on his Facebook page.
Earlier, the National Bank of Ukraine published an analytical review of the non-bank financial sector for the first quarter of 2026. The report notes significant market growth: the total share of non-bank financial institutions in assets under the NBU’s supervision increased by 0.2 percentage points and now stands at 9%.
We also note that the National Bank of Ukraine has tightened currency restrictions on international payments. This will help prevent unproductive capital outflows from the country.
Earlier, we reported that the Northern Commercial Court of Appeal in Kyiv confirmed that the state-owned PrivatBank cannot be returned to its former owner, Ihor Kolomoyskyi.
