Ukrainians hold 890 billion in cash: the reason for the sharp increase.

According to inkorr.com: In Ukraine, there is a significant increase in the amount of cash in circulation — as of October 1, 2025, the population holds 890.1 billion hryvnias in cash. This is 67.7 billion hryvnias more than at the beginning of the year. This information was disclosed by the National Bank of Ukraine on its Telegram channel.

Reasons for the increase in cash

In the first quarter, banks reduced the amount of cash in circulation, but in the second and third quarters, demand for it increased. The NBU explained that the growth in cash volume is due to seasonal factors and the consequences of Russian attacks, which prompted people to withdraw money just in case due to possible prolonged power outages.

“The increase in the volume of cash is related to the growing uncertainty regarding the end of the war and the risks of disruptions in the banking infrastructure,” the agency noted.

Dominant banknotes and coins in circulation

Among the banknotes, the largest share is made up of 500 hryvnia notes — they account for over a quarter of all money (26.6%). The least in circulation are 50 hryvnia notes (4.5%). During the first nine months of the year, the share of thousand hryvnia notes also increased — they became more by 3.6%.

As for coins, Ukrainians most often use 1 hryvnia coins, and the least — 10 hryvnia coins.

Impact on the trend

According to economists, the increase in the volume of cash is a typical response of the population to the threats associated with the war. In the case of frequent attacks or power outages, Ukrainians prefer to keep reserve funds at home, as it is not always possible to use ATMs or cards.

This situation highlights how the war and economic challenges affect the financial behavior of the population. Keeping cash on hand becomes a kind of security means, as uncertainty and risks in conflict conditions increase the desire to have reserves. How this will affect the banking system and the economy as a whole will become clear over time.