From July 27, the National Bank allowed banks to sell half of the non-cash currency purchased from citizens in the cash segment of the foreign exchange market from April 13, 2022 in addition to the sale of cash currency purchased from the same date.
This is stated in the NBU message, Ukrainian News Agency reports.
The corresponding solution should increase the supply in the cash segment of the foreign exchange market and ultimately affect the easing of devaluation pressure.
It is noted that additional pressure on the international reserves of the NBU due to the use of this permit by banks will be moderate and controlled.
The amendments and a number of other clarifying changes are made by the Resolution of the Board of the National Bank dated July 26 No. 159 "On Amendments to the Resolution of the Board of the National Bank of Ukraine dated February 24, 2022 No. 18," which enters into force on July 27.
As Ukrainian News Agency earlier reported, the National Bank from April 14, 2022 allowed banks to sell cash foreign currency to the population.
At the same time, the regulator predicted that banks can sell cash to customers within the difference between the total volumes of foreign currency purchased by them and the foreign currency sold.
This was necessary to prevent additional pressure on foreign exchange reserves in the context of a significant predominance of demand over supply in the cashless segment of the foreign exchange market and the realization of deferred demand from citizens.
Who we are: About us, Contacts. How we write news and our principles: Editorial code. We did our best. If you found this valuable – please support us.
To request a correction, please send an email.