Ukrainian Securities and Exchange Commission suspended trading with Ukrainian stocks and bonds on February 24 due to the Russian invasion into Ukraine. The regulator informed that it will try to back up the critical data for the market.
The National Bank decided to suspend the operation of Ukraine’s foreign exchange (FX) market, except for FX sales by customers. The official hryvnia exchange rate was fixed at 29.25 UAH/USD on Feb 24 to prevent the large revaluation of Ukrainian banks’ liabilities in foreign currency. The indicative quotes for the hryvnia cash exchange rate stand in the wide bid/ask spread of 29.31 – 31.32 UAH/USD.
Currently, the National Bank and the IMF are in talks to find options to support Ukraine’s economy and financial sector at the time of the war. Kyiv has applied to the IMF requesting to initiate the allocation of additional financing for Ukraine under the Rapid Financing Instrument (RFI), the emergency assistance program the IMF offers to its member countries. The RFI provides prompt access to financial assistance to countries facing an urgent need to support their balance of payments, including as a result of military conflicts. The World Bank has also responded to the situation in Ukraine and is discussing a package of financial support under the Second Economic Recovery Development Policy Loan Program.
The National Bank has started the global initiative to raise money to support Ukraine.
There is an official multi-currency account for the support.
More details can be found on the National Bank’s official page in English.
Please see the link below:
www.bank.gov.ua/en/news/all/natsionalniy-bank-vidkriv-spetsrahunok-dlya-zboru-koshtiv-na-potrebi-armiyi
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