The National Bank of Ukraine (NBU) in the period from March 10 to April 9, 2015 increases the limit for obligatory reserves of banks to reduce the devaluation pressure on the hryvnia, reads a press release of the NBU issued on Tuesday.

"The volume of obligatory reserves of banks is increased by around UAH 12 billion, which will cut the amount of available liquidity of the banking system and will promote the reduction of the devaluation pressure," reads the press release.

NBU said that the key factor of this growth will be the exchange rate revaluation of funds raised in foreign currency.

According to the press release, the decision could complicate the servicing of payment turnover of their clients for banks, and banks are permitted to send 100% of ending cash stocks in the national currency (50% of ending stocks) to cover obligatory reserves.

"This will allow reducing the impact to the forex factor on the volume of obligatory reserves in the amount of around UAH 9 billion. The volume of obligatory reserves that the banks are to form additionally will grow by some UAH 3 billion," reads the press release.

According to the document, the requirement will take effect on March 10.