The National Bank of Ukraine decided on March 9 to conduct operations to exchange non-cash foreign currency of banks for cash. This decision is preventive in nature and is aimed at supporting bank cash desks and ensuring sufficient cash foreign currency liquidity for the population.
The NBU notes that the current situation on the foreign exchange market remains stable. Banks have sufficient reserves of cash currency, and the average daily balances in their cash desks correspond to last year’s indicators.
At the same time, the logistics of supplying cash currency from abroad may be temporarily complicated by the illegal seizure of Oschadbank’s cash collection machines on the territory of Hungary.
The National Bank explained that the volumes and frequency of currency exchange operations will be determined depending on the needs of the banking system. The regulator also controls the fluctuations of the hryvnia exchange rate, which responds to the balance of supply and demand in the market, and maintains stability due to a sufficient amount of international reserves.
The department emphasized that these operations will not affect the total amount of international reserves of Ukraine.
Meanwhile, the Ministry of Foreign Affairs of Ukraine reported that they summoned the Hungarian ambassador and demanded the return of state property. This includes more than 40 million dollars, 35 million euros and approximately 9 kilograms of gold.
