Deposits are depreciating: NBU made a troubling statement about the deposits of Ukrainians.

According to the National Bank of Ukraine, the income from hryvnia deposits does not compensate for the depreciation of deposits due to inflation. In February, inflation reached 13.4% and may rise to 15% in the coming months. Currently, the average rate for annual deposits in Ukrainian banks is only 10.5%, which is lower than the inflation rate.

Despite this, hryvnia deposits increased again in February. Household deposits grew by 1.4% and reached 1.229 trillion hryvnias. The volume of business deposits also rose by 2.3%.

'At the beginning of this year, a trend is repeating that was observed in pre-war times, when seasonal factors caused the inflow to customer accounts to grow at the end of the calendar year and decrease at the beginning of the next, but this decrease is quickly compensated and does not affect the liquidity of the banking system'

The NBU is trying to increase deposit rates. Over the past three months, the key rate has been raised three times: to 15.5% in February. However, these measures have not yet led to a corresponding increase in deposit rates for households.

Warning about keeping money at home

Experts warn that it is not advisable to keep money at home due to depreciation and risks of physical loss of funds.