Money transfers to Ukraine estimated at US$1.2 bln in 1H 2018

Money transfers to Ukraine via money remittance systems in the first half of 2018 (H1) were estimated at US$1.2 billion (in the equivalent), while those from Ukraine totaled $140 million.

"Most of the money transfers within Ukraine are carried out through money remittance systems created by resident non-bank financial institutions. Eleven of them have jointly performed about 92% of all transfers within Ukraine," the press service of the National Bank of Ukraine (NBU) said.

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Money transfer transactions worth UAH 69.4 billion have been carried out across Ukraine, the report said.

As of early July 2018, some 31 money remittance systems out of 37 transferred funds within Ukraine, while 12 systems provided cross-border transfers.

As UNIAN reported earlier, the National Bank estimated the volume of private money transfers to Ukraine in 2017 at $9.3 billion, or 8.4% of GDP.