Ukraine seeing cash foreign currency shortage over interruptions in air traffic, NBU to sell euros

Deputy Governor of the National Bank of Ukraine (NBU) Oleh Churiy says Ukraine is seeing a shortage of cash foreign currency over interruptions in air traffic, therefore the regulator has purchased cash foreign currency in euros and plans to hold an auction to sell it on March 19. "This issue will be resolved in the near future: we have already purchased part of cash foreign currency in euros and plan to hold an auction to sell cash currency for non-cash transactions," he said in a statement, as reported on the NBU's website. Churiy added the National Bank was working with U.S. counterparties to have a large batch of cash in dollars delivered. As UNIAN reported earlier, a number of Ukrainian banks suspended the sale of cash currency, but continue to conduct non-cash foreign exchange transactions. On March 17, the National Bank noted a shortage of cash currency at the banks' cash desks due to problems with its delivery, but promised to improve the situation in the near future. Over five business days in March, Ukrainian companies and citizens have bought US$2.1 billion, while about US$1.7 billion was bought by the business to pay on contracts and debt payments, and the population bought US$300 million. The regulator says the increased demand for foreign currency is due to a psychological factor, namely a deterioration in the moods of market players over the global spread of coronavirus.

Ukraine seeing cash foreign currency shortage over interruptions in air traffic, NBU to sell euros

UNIAN Web subscription