Money transfers within Ukraine grow 40% in H1 2021 - NBU

Money transfers within Ukraine grow 40% in H1 2021 - NBU

Ukrinform
Money transfers within Ukraine through money transfer systems rose by 40% in the first half of 2021, Ukrinform reports, referring to the press service of the National Bank of Ukraine (NBU).

"Domestic money transfers through money transfer systems increased by 40% compared to the first half of 2020. Thus, in the first half of 2021, 388.58 million money transfers for a total sum of UAH 166 billion, or USD 5,976 million in equivalent, were conducted through money transfer systems within Ukraine (UAH 118 billion, or USD 4,551 million, in the first half of 2020),” reads the report.

Traditionally, most money transfers were sent to Kyiv, the NBU added.

In the first half of 2021, the average amount of one transfer within Ukraine totaled UAH 427 (UAH 360 in the first half of 2020). Almost all fund transfers within Ukraine were carried out through money transfer systems created by residents (99.98%).

As to cross-border transfers, money transfer systems created by non-residents took the lead. Through them, 88.68% of money transfers were sent to Ukraine and 97.1% came from Ukraine.   

In particular, in the first half of 2021, 3.68 million fund transfers for a total sum of $1,470 million in equivalent were sent to Ukraine through money transfer systems. That is 23.8% more than in the same period last year. The average amount of one transfer to Ukraine rose by 6.9%: to USD 400 from USD 374.

From Ukraine, 0.53 million money transfers for a total sum of $290 million in equivalent were recorded in the first half of 2021 (up 36.8%). The average amount of one transfer from Ukraine grew by 18.2%: to USD 546 from USD 462.

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