Ukraine’s Central Bank has begun measures intended to liberalize the Ukrainian foreign exchange market, according to Bohdana Yefremova, head of custody at HVB Ukraine.
The bank is considering the possibility for two-side quotations for local banks. “Presently local banks are authorized to execute either purchase or sale transactions within on particular day only,” Yefremova said. The central bank is going to diminish its participation in the market allowing fluctuations of up to 10%, according to the Central Bank’s Deputy Chairman. The announced changes are expected to come into force next month.