12:02 27.03.2015

Central bank to scrap announcing official forex rate at midday

1 min read
Central bank to scrap announcing official forex rate at midday

The National Bank of Ukraine (NBU) has decided to return to publishing the official hryvnia forex rate against foreign currencies at the end of the business day so the rate is applicable from the next business day.

The NBU previously announced the rate at midday, since April 2014.

"As of March 31, w015, the official forex rate of the hryvnia against foreign currencies and the rate of banking metals subject to daily update will be fixed at the end of the working day to be applicable from the next working day," the NBU wrote on its Facebook page.

The official forex and other related rates will be updated on the NBU's official website before 18:00 Kyiv time.

In addition, as of March 31, 2015, the calculations of the official hryvnia forex rate against the U.S. dollar will be carried out as a weighted average of the hryvnia exchange rate to the U.S. dollar under all concluded contracts on dollar purchases and sales under 'today,' 'tomorrow,' and 'spot' terms when the official forex rate is fixed with the use of data from the NBU-run system of confirmation of agreements on the Ukrainian interbank forex market.

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