Friday, November 19

As of 1 December 2021, the NBU will increase the limits on banks’ open long and short FX positions from 10% to 15% of their regulatory capital.

The NBU projects that the higher limits will expand by about $400 mln the banks’ ability to conduct interbank transactions within their FX positions. This will contribute to the banks’ greater role in smoothing out excessive exchange rate fluctuations on the FX market and enhancing liquidity and market depth in general, reported NBU.

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The development of the processing industry in 10 years might double GDP to $300 bln.

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Ukraine and the EU agreed on the next steps for the implementation of the Common Aviation Area Agreement and discussed the removal of barriers to trade.

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The newly-elected Chancellor, Olaf Scholz, is ready to support Ukraine’s move towards EU membership. The coalition agreement of the new German government contains a clause stating its readiness to support Ukraine’s movement towards membership in the European Union. The agreement reads, “We will work together with the EU and its Member States to further develop the Eastern Partnership and a market economy. It is also noted that the German government will continue to assist Ukraine in restoring its full territorial integrity and sovereignty”.

A senior EBRD delegation is starting a week-long trip to Ukraine to meet with the country’s authorities and private sector companies. The delegation will include Alain Pilloux, the Vice President of Banking and in charge of Bank lending; and Mark Bowman, the Vice President for Policy and Partnerships.  The visit is to reconfirm the EBRD’s support for Ukraine, its reform agenda, and sustainable development. Discussions will focus on the decarbonization of the Ukrainian economy in line with the country’s updated Nationally Determined Contribution, the development of sustainable infrastructure, and the investment