/ rodniknews.in.ua
The National Bank of Ukraine (NBU) has entered into a currency swap agreement with Sweden's central bank Sveriges Riksbank, which covers the purchase and sale of a maximum of $500 million against the Ukrainian hryvnia, according to a posting on the regulator's website.
"The funds received under the agreement will be used to increase Ukraine's international reserves," said Governor of the National Bank of Ukraine Valeriya Gontareva, according to a report.
The NBU has also concluded an agreement with the Swedish central bank on what is known as "technical assistance" for Ukraine. According to the agreement, Riksbank will cooperate with the NBU to transfer knowledge within important central-bank-related areas. The provision of technical assistance aims at strengthening the central banks of other countries and in this way contribute to economic development and stability in recipient countries.
Read alsoWorld Bank projects economic recovery in Ukraine in 2016The swap agreement with the Riksbank will run for six months starting from September 16, 2015.
As UNIAN reported earlier, the NBU foreign exchange reserves grew by 21.6%, or $2.2 billion, in August amounting to $12.6 billion thanks to obtaining the next tranche from the International Monetary Fund, as well as the receipt of funds from other international lenders and a number of foreign exchange transactions of the NBU.
According to the NBU, forex reserves are forecast to grow to $18 billion by the end of 2015.
In 2014, the NBU reserves fell by $12.883 billion, or 63.1%, to $7.533 billion, as of January 01, 2015.