National Bank of Ukraine exchanges $40 mln in non-cash foreign currency for cash on March 25 for 1 bank

MOSCOW. March 26 (Interfax) - The National Bank of Ukraine (NBU) conducted transactions on March 25 to exchange banks' non-cash foreign currency for cash foreign currency, replenishing their cash holdings with $40 million, while the announced volume was $50 million and 10 million euros, Ukrainian media reported, citing the regulator's statement.

One bank participated in the March 25 transactions and its bid was fully satisfied, it said.

The decision to take measures to supply banks with foreign cash was made by the NBU on March 6 as a preventive step to maintain Ukrainian banks' foreign cash liquidity if necessary.

"The National Bank stands ready to continue providing banks with as much FX cash as is necessary. The frequency and size of such transactions will depend on the banking system's demand," the NBU said.

From March 9 to 25, the NBU conducted transactions to exchange banks' non-cash foreign currency for cash to replenish their cash funds in the amount of $243.1 million and 141 million euros. Demand from banks was significantly lower than the amount offered by the NBU, confirming that there is no shortage of foreign cash.