At the end of October 2021, deposit rates in Ukraine began to increase and reached 8.7%, which was the maximum this year.
This was announced by Andrey Shevchishin, head of the Forex Club Analytics Department.
"The rates on dollar and hryvnia deposits have finally turned around, influenced by both seasonal trends and global growth in rates and inflation," he points out.
The hryvnia yield on the annual deposit for households reached its highs this year—8.7%.
Meanwhile, in January-September alone, consumer inflation in Ukraine amounted to 7.5%. It is impossible to say exactly what it will be by the end of the year, but it will definitely exceed 10%. Consequently, the annual yield on hryvnia deposits does not cover the rise in prices and is in the negative territory.
For the first time since April, the deposit in US dollars reached 1% per annum, but it still remains not interesting for investing. For comparison, the average dollar deposit in countries like the Russian Federation, Belarus, and Kazakhstan is 1.7%.
The yield on hryvnia sovereign bonds has already confidently entered the territory of more than 11%.