16:03 16.09.2015

Sweden's forex swap for Ukraine's central bank will amount to up to $500 mln

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Sweden's forex swap for Ukraine's central bank will amount to up to $500 mln

The National Bank of Ukraine (NBU) has concluded a forex swap agreement with Sveriges Riksbank, Sweden's central bank, which foresees the purchase and sale of Swedish kronor in the amount of up to $500 million in exchange for Ukrainian hryvnias.

"The assets from the swap will be funneled into the replenishment of Ukraine's international reserves," the NBU said, quoting NBU Governor Valeriya Gontareva as saying.

The NBU also concluded an agreement with Sveriges Riksbank on technical assistance.

As reported, the NBU signed an agreement with the People's Bank of China in May 2015 on a forex swap of CNY15 billion (about $2.44 billion).

In August 2015, Ukraine's international reserves expanded by $400 million due to the CNY swap operation.

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