National Bank of Ukraine (NBU) and Narodowy Bank Polski signed an agreement for executing an FX swap worth $1bn.
This was announced on the NBU [official] website.
NBU Deputy Governor Yuriy Heletiy commented that obtained funds “will increase our international reserves and help us to maintain the macrofinancial stability of Ukraine”.
“On 21 March 2022, the UAH/USD Swap Agreement between the central banks of Poland and Ukraine came into force. The agreement will be valid for one year and can be prolonged,” - was stated by NBU.
Reminding that Narodowy Bank Polski has made a decision to execute FX swap with Ukraine back on the 24th of February. Since then, the operation has been prepared.
In the evening of 24 February, the National Bank eased and specified some restrictions, in particular, allowing operations between banks on a ‘swap’ basis.