The National Bank of Ukraine (NBU) states about signs of the shortage of cash currency in the banks. It is caused by the increase of the demand of the population for cash currency as the NBU reported on Facebook.
Due to the stop of the air transportation and closure of the border, cash dollars and euros are supplied to Ukraine with delay.
“Considering the quarantine measures imposed by the world countries and Ukraine, the National Bank along with other banks solve this issue,” the NBU reported.
Meanwhile, $8 billion of non-cash currency are funneled on the correspondent accounts of the banks and the clients may transfer the currency to their accounts freely, including the accounts opened in other banks, convert one non-cash currency to another.
Earlier, the National Bank of Ukraine stated that it plans no restrictions due to the nationwide quarantine. According to the authority, there are enough reserves to edge any currency fluctuations. Besides, the NBU believes that the jump in the exchange rate this week is mostly due to the psychological factor.
As we reported, starting at midnight on March 17, Ukraine blocked all types of traffic across the state border as part of measures to combat the Covid-2019 epidemic.