Euro overtakes dollar in Ukrainian currency preferences: a major shift in demand.

How currency demand is changing in Ukraine: euro gains ground on dollar

According to Мінфін — Крипто/Фінанси: In the first half of 2026, Ukrainians significantly increased their holdings of the euro. Net demand for the euro reached $1.8 billion—an 18.2% rise compared to the same period in 2025. Meanwhile, net demand for the dollar dropped to $1.6 billion, a 20.1% decline year-on-year. This marks a notable departure from previous trends, where the dollar dominated personal savings.

By June 2026, the euro accounted for 28.2% of all cash transactions in Ukraine, reflecting its growing appeal among the public. In contrast, the dollar's share in people's portfolios fell to 68.3% in the same month, signaling reduced confidence in the US currency. These figures highlight a steady shift in how Ukrainians choose to store their wealth.

“Customers are increasingly turning to the euro, which mirrors broader trends in the economy and financial markets.” - Andriy Shevchyshyn

These developments may stem from various economic factors reshaping currency preferences among Ukrainians.

What drives the public's economic choices

The rising demand for the euro in Ukraine could point to a change in the population's economic priorities, as well as an adaptation to new financial realities. This pivot toward the European currency may be driven by:

• more stable economic indicators in the eurozone compared to the United States;
• the influence of global economic trends.

Such shifts could have significant implications for the country's currency market and economic policy going forward.