Monetary base in Ukraine in April increased by 4.8% to 412,24 billion hryvnia.
This reads the data of the National Bank.
Growth in the first four months of 2018 was 3.3%.
The monetary base growth was underpinned by an increase in cash in circulation outside banks (by 2.5% to 331,618 billion) and to increase reserve funds in banks (15.5 per cent to 80,622 billion UAH).
Money supply (M3) in Ukraine in April 2018 increased by 1.9% to 1,191 trillion UAH.
According to the Central Bank, this dynamics was due to higher balance of deposits by 1.7%, to 859,119 billion, and the volume of cash in circulation outside banks (monetary aggregate M0).
Since the beginning of 2018, the total money supply decreased by 1.5%.
The level of dollarization of the money supply is reduced 30% compared to 31% in March and 32% by the end of 2017.
Net international reserves in April grew by 5% to 6,661 billion, debt of banks for refinancing loans declined by 4.8% to 59,973 billion.
Since the beginning of the year net foreign currency reserves decreased by 0.2%, the debt of banks on refinancing loans – 12.6%.
The reason for the sharp growth in the monetary base in December 2016 was the monetization of government bonds in recapitalization of nationalized PrivatBank.
The growth of the monetary base in recent months may be associated with the emission of hryvnia for redemption of foreign currency on the interbank market.