Ukraine’s central bank hardened stance on foreign currency transactions by prohibiting banks from purchasing foreign currency for their clients and limiting the purchases of their own operations, according to a statement on Wednesday.
The central bank announced that the authorized banks are prevented from buying foreign currency on behalf of customers until February 27. It also restricted the purchases of foreign currency for hryvnias by keeping a limit of upto 0.5 percent of bank’s capital for a working day.
The new move is aimed to support its hryvnya currency, which was hit hard due to conflict in Ukraine.
The central bank also enlarged the waiting period to four business days, from three, for the purchase of foreign currency through deposits in special accounts, or for making advance payments on imports worth more than $50,000.
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