NBU will keep spread between cash and official hryvnia exchange rates up to 5%

The National Bank of Ukraine (NBU) will keep the spread between the cash and official hryvnia exchange rates up to 5%.

This is stated in the presentation of the strategy for the development of the financial sector of Ukraine, Ukrainian News Agency reports.

The National Bank of Ukraine, the Ministry of Finance, the Deposit Guarantee Fund approved the new Strategy for the Development of the Financial Sector of Ukraine.

The strategy envisages the following indicators of its implementation in the short term during resistance to russian aggression:

1. The consumer price index is at a level of less than 15%.
2. A stability assessment was conducted, including AQR and stress testing of banks.
3. Insurance of military and political risks was introduced.
4. The bill on the introduction of a comprehensive system of recovery, settlement of insolvency and withdrawal of insolvent institutions from the market (EU BRRD directive) has been registered.
5. NPL resolution tools are available.
6. Keeping the spread between the cash and the official rate, hryvnia to the U.S. dollar, less than 5%.
7. A road map for the restoration of the provision of financial services in the de-occupied territories was formed as part of the plan for the de-occupation of the territories of Ukraine.
8. The market of virtual assets is regulated by law.
9. The financial and institutional capacity of the National Commission for Securities and Stock Market is ensured.
10. Legislative regulation of investment accounts has been introduced.
11. Legislative regulation of the activities of rating agencies has been brought into line with EU requirements.

As Ukrainian News Agency earlier reported, on July 21, the NBU adjusted the official hryvnia exchange rate by 25% to 36.5686 UAH/USD.

From August 6, 2022, the NBU canceled the restriction, according to which banks and non-banking institutions had to buy cash currency from the population at a rate no lower than the official one.

The NBU allowed banks to sell more currency to the public.

Thus, from September 6, the amount of cash currency that the bank can offer to the population will include the entire amount of non-cash currency purchased by it from April 13, 2022, instead of half of it.

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