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National Bank approves two resolutions to tighten control over foreign exchange and money market transactions

07-02-2014 13:20

National Bank of Ukraine (NBU) is introducing temporary limitations on foreign currency purchases for certain operations on the interbank forex market.As National Bank of Ukraine (NBU) Governor Ihor Sorkin has said,there are no grounds to say that this is a long-term trend," he said at a press conference in Kyiv."We are sure that short-term demand will fall and the market will start operating in the narrower corridor," he added.

He said that the NBU is strengthening regulations to reduce speculative demand.He said that if the situation improves, the temporary measures taken by the central bank to stabilize the exchange rate would be canceled.He said that the NBU remains an active player on the currency market to fulfill its function to ensure the stability of the hryvnia.