Remittances from Ukrainian labor migrants in 2018 amounted to approximately 11 billion dollars
The amount of money transferred in 2018 exceeded transfers over the past year by 8 times. In total for the year, 350,000 remittances were registered in amounts of 20 euros on average.
Such calculations were voiced at the National Bank of Ukraine during a press conference on a decision of the Board of the National Bank in accordance with monetary policy.
The National Bank notes that the size of currency transfers to Ukraine will increase in 2019 due to the increase in profits of Ukrainians working abroad. In addition, due to the increase in the size of currency transfers last year, the hryvnia exchange rate strengthened.
“Also, the rate was strengthened by high export prices on foreign markets, a record grain harvest and significant amounts of remittances,” the National Bank reports.
Earlier, the National Bank stated that the profits of Ukrainian migrant workers increased by 43%, but the pace of labor migration slows down over time.