NBU changes procedure for calculating average hryvnia exchange rate on interbank market

14:38, 24.02.2015 1 min read

The National Bank of Ukraine (NBU) has changed its procedure for calculating the average hryvnia exchange rate on the interbank currency market.

"Starting from February 23, 2015 agreements using the date when they were signed, not the value date (the agreements on the TOD, TOM and SPOT conditions) are used to calculate the average exchange rate for selling U.S. dollars on the interbank currency market of Ukraine," reads a post on the NBU's website.

According to the report, the agreements signed between banks and internal agreements of banks signed with their clients will be used to calculate the average exchange rate. The exchange rate will be calculated without taking into account forward agreements and agreements under SWAP conditions.

According to NBU resolution No. 496 of November 12, 2003, the official exchange rate of the hryvnia to the U.S. dollar is calculated as the average exchange rate of sellers and buyers as of 13:00.