Page 46 - UKRRptAug20

one% weaker than one year ago, July 8, 2019.
The remittances of Ukrainian labourers abroad dropped 2.1% y/y to $4.5bn in 5M20​, the National Bank of Ukraine (NBU) reported on July 10. Around 60% of remittances were transferred through informal channels, while the rest occurred via banking transfers and international money transfer systems, according to NBU estimates. The remuneration of Ukrainian labourers abroad dropped 4.8% y/y in 5M20 to $4.7bn, the NBU said. Evgeniya Akhtyrko: The remittances of labour migrants have been essential for Ukraine's economy since 2015, as they restrained the enlargement of the current account (C/A) deficit amid a negative trade balance. Recall, due to the revision of a remittances estimate in 2018, the NBU improved Ukraine’s C/A for 2015-2017 by about $2bn p.a.
Ukraine FX
Jan 2020
Feb 2020
Mar 2020
Apr 2020
May 2020
Jun 2020
Jul 2020
Currency (units per EUR) (average)
26.78
26.84
29.34
29.54
29.16
30.03
31.32
Currency (units per USD) (average)
24.12
24.58
26.52
27.18
26.77
26.79
27.33
46​ UKRAINE Country Report​ August 2020 ​ ​www.intellinews.com