Ukraine’s National Bank (NBU) plans to kickstart Ukraine’s accession to the Single Euro Payments Area (SEPA) in 2024, chairman Andriy Pyshnyi wrote on Facebook. This move comes on the heels of the European Council’s decision on Dec. 14 to commence negotiations on Ukraine’s accession to the EU. “The European Council made a historic decision on … Read more
Andriy Pyshnyi, Head of the Ukraine’s National Bank, linked the recent marginal depreciation of the hryvnia to seasonal influences as he discussed the exchange rate during a press briefing in Kyiv on Dec. 14. “Now we are witnessing a familiar pre-war-time process of seasonality, when the demand for currency increases towards the end of the … Read more
The share of non-performing loans (NPLs) in the Ukrainian banking sector as of Nov. 1, 2023 amounted to 37.7%, compared to 37.9% as of Oct. 1, although their total value had actually increased, Ukraine’s National Bank has revealed. “The share of NPLs in the banking sector as of Nov. 1, 2023, was 37.7%, which is … Read more
The National Bank of Ukraine (NBU) has set the key interest rate at 16% as of Oct. 27, bringing it in line with the rate for overnight certificates of deposit (CDs), the NBU announced on Oct. 26. Interest rates on its other operations with banks remain unchanged. The rates for overnight, three-month CDs, and refinancing … Read more
There is no demand for the creation of new banks: over the past five years, the National Bank of Ukraine (NBU) has not received a single package of documents, Deputy Governor of the NBU Dmytro Oliynyk has said. “The number of requests from non-bank players is also at a low level, at the same time, … Read more
The International Monetary Fund (IMF) has announced the creation of the Capacity Development Fund for Ukraine, with $14 million already received from donors, National Bank of Ukraine Governor Andriy Pyshnyi has said in a post on Facebook. “The IMF has officially launched the Capacity Development Fund for Ukraine, aimed at addressing the needs for the … Read more
An important task for the National Bank of Ukraine (NBU) remains reducing the spread between the dollar exchange rate on the cash market and the official rate, and therefore the central bank is ready to use additional tools if necessary, said Deputy Governor of the National Bank Serhiy Nikolaychuk at a press briefing on Monday. … Read more
Banks, which until today could buy and sell currency at the request of clients only within the official rate of the National Bank of Ukraine +/-1%, from October 3 can independently set it without this limitation. The corresponding norm is enshrined in resolution No. 121 of the NBU board of October 2 on the transition … Read more
The reduction in the key policy rate of the National Bank of Ukraine (NBU) in September from 22% to 20% per annum was supported by nine members of the monetary policy committee, two spoke in favor of a more significant reduction – to 19%, the regulator reported on the results of committee discussions on September … Read more
The National Bank of Ukraine (NBU) will allow banks to sell non-cash foreign currency without verification of grounds or contractual obligations for such operations, starting from Aug. 29. As reported by NBU’s press service, the bank is easing currency restrictions and minimizing exchange rate disparities. Starting from Aug. 29, banks will be able to sell … Read more