NBU And National Bank Of Poland Extend Currency Swap For Year

The agreement between the central banks of Ukraine and Poland on the currency swap of the hryvnia/US dollar has been extended for another year.

This is stated in the NBU message, Ukrainian News Agency reports.

It is noted that the terms of the contract have not changed: the maximum volume of operations is USD 1 billion in equivalent, and the validity period is one year with the possibility of prolongation.

The NBU said that already on the first day of Russia's full-scale invasion of Ukraine, the Polish central bank decided to open the National Bank of Ukraine access to USD 1 billion on the terms of a currency swap.

The National Bank of Ukraine did not use appropriate funding, while such support for the Polish central bank became an "airbag" for the financial sector of Ukraine.

As Ukrainian News Agency earlier reported, the swap line is an agreement between the two central banks of different countries on the mutual exchange of currencies at fixed rates.