Is there a currency shortage in Ukraine: the National Bank has provided an explanation
11 March 14:18
Despite the seizure of Oschadbank’s funds in Hungary, there is no reason to expect a currency shortage in Ukraine, as the NBU is continuing to exchange non-cash funds for foreign banknotes as usual.
This was reported by "Komersant Ukrainian" with reference to the NBU press service.
It is noted that on March 9 and 10, 2026, the National Bank of Ukraine conducted operations to exchange non-cash currency of banks for cash to replenish bank cash registers.
The purpose of such operations is to prevent a possible shortage. The decision to carry them out was made preventively in view of the difficulties with the delivery of cash currency due to the illegal seizure of Oschadbank’s cash collection vehicles in Hungary.
In recent days, there has been moderate demand for cash exchange by banks. This may indicate that banks have sufficient cash reserves.
“The National Bank is ready to continue supporting banks in providing their cash desks with foreign currency to meet the needs of Ukrainians. The frequency and volume of such operations will depend on the needs of the banking system,” the NBU added.
It is also noted that such transactions will in no way affect the volume of Ukraine’s international reserves.
What preceded
On March 5, two Oschadbank vehicles accompanying seven cash collectors were unjustifiably detained in Hungary.
The vehicles were transporting $40 million, €35 million, and 9 kilograms of gold as part of a regular shipment of foreign currency and gold between Raiffeisen Bank Austria and Oschadbank.
On the same day, Ukraine managed to return the seven cash collectors, but the property is still in the hands of Viktor Orbán’s Hungarian regime. The Ukrainian Foreign Ministry has assured that Ukraine will take appropriate measures, including initiating sanctions, due to the detention of Ukrainian citizens in Hungary.
