The money supply in Ukraine edged down 0.3% to UAH 470.5 billion in August and 8.8% in the first eight months of 2009, the National Bank of Ukraine said in a statement on its website.
The monetary base decreased 3.1% in August and 1.8% in January-August to UAH 183.4 billion.
“The situation on the monetary and credit market in August 2009 was
characterized by a certain increase in tension due to heightened
devaluation expectations. In these conditions, the National Bank
carried out a strict monetary and credit policy, which was reflected by
tightened requirements for banks to compile mandatory reserves and step
up mobilizing operations,” the statement says.
The amount of cash outside of banks fell 1.7% to UAH 149.2 billion in August and 3.6% in the first eight months.
The share of cash in the money supply declined to 31.7% in August from 32.2% in July.
The official exchange rate on September 4 was UAH 7.985/$1.
