OREANDA-NEWS On 08 October was announced, that Ukrainian banks accelerated the provision of loans to the economy in the hryvnia by 1% in September m-o-m, after a slump of 0.4% in August. So far, loans have only been made available to businesses, while households are still considered unreliable borrowers. Another positive trend was the halt in the transfer of deposits to foreign currency deposits, as businesses are starting to believe that the depreciation of the hryvnia is coming to an end, which was reflected in the increase of 1% in national currency deposits by this group of depositors.

Another reason for the appreciation of the hryvnia is the NBU’s tight monetary policy, which mobilized almost UAH13 bln since the beginning of the year, sterilizing liquidity which could have been used for currency speculation.