In the current week the National Bank of Ukraine is fixing the renewal of the operations between banks in the foreign exchange market.
This is reported on the National Bank of Ukraine website.
“Despite the war, which is still going on in our territory, the National Bank would like banks to interact with each other as actively as possible. The rates at which the National Bank is carrying out buying and selling operations with banks, despite their fixation, are creating some space in which market mechanisms can work”, the Head of the National Bank Yuriy Heletiy states.
On 24 February 2022 the National Bank promptly made a range of decisions to ensure stable and reliable functioning of the financial system in the circumstances of Russia’s armed aggression. One of the decisions was about fixing the rate at the level of 24 February and pausing the work of foreign exchange market, except for selling foreign currency to clients.
In the evening of 24 February the National Bank eased and specified some restrictions, in particular, allowing operations between banks on a ‘swap’ basis. On 1 March operations on foreign currency exchange between banks within Group 1 of the Classifier of Foreign Currencies and Banking Metals were allowed.
As a reminder, the NBU allowed Ukrainians to take currencies abroad without confirmation documents.
As of 1 March the international reserves of Ukraine, according to initial data, constituted 27,537.9 million US dollars.