The volume of money transfers to Ukraine using international money transfer systems in January-September was 6.1 times more than the amount sent abroad.
According to a report from the National Bank of Ukraine (NBU) on Facebook, for the first nine months of 2019, some $1.673 billion in equivalent was sent to Ukraine through money transfer systems, which is 4 percent less than in the same period of 2018.
“Such a slight fluctuation is due to seasonal factors,” the central bank explained.
Some $275 million in equivalent was sent through money transfer systems outside Ukraine during this period, and the volume of remittances through money transfer systems within the country was Hr 140 billion, or $5.311 billion in equivalent.
The predominant volume of domestic transfers (89 percent) was made through the systems created by non-banking institutions. The largest volume of transfers within Ukraine (more than 67 percent) was carried out by two money transfer systems: Forpost (Post Finance LLC) and Postal Transfer (JSC Ukrposhta).
During the nine months of 2019, in Ukraine cross border transfers were actually carried out by nine money transfer systems, two of which were created by residents and seven were created by non-residents (four systems from the United States, one system from Georgia, Canada, and Azerbaijan). The largest amount of funds was transferred to Ukraine from the United States and Israel.
In the first half of 2019, some 37 money transfer systems provided services in the territory of Ukraine, of which 30 systems were created by residents and seven systems were created by non-residents.
