NBU ready to back banks with cash currency - market situation stable
Kyiv • UNN
The National Bank will exchange non-cash currency for cash on March 9, 2026. The measure is due to logistical problems after the seizure of Oschadbank vehicles.
The National Bank of Ukraine is ready to replenish bank cash desks with foreign currency cash if necessary. To this end, on March 9, 2026, the regulator will conduct an operation to exchange non-cash currency of banks for cash. This was reported by the National Bank of Ukraine, UNN reports.
Details
The NBU explained that this decision is preventive and aimed at maintaining sufficient cash foreign currency liquidity of banks to meet public demand.
According to the regulator, the situation on the cash foreign exchange market remains stable, and banks have a sufficient supply of cash foreign currency. The volume of its average daily balances in bank cash desks corresponds to last year's figures.
At the same time, the National Bank noted that the illegal seizure of Oschadbank's armored vehicles in Hungary could cause temporary logistical difficulties with the delivery of cash foreign currency from abroad. That is why the regulator is ready to carry out appropriate operations to replenish bank cash desks.
The frequency and volume of such operations will depend on the needs of the banking system for cash foreign currency liquidity.
The NBU also emphasized that the foreign exchange market generally remains stable. Under the managed flexibility regime, the exchange rate reacts to changes in the balance between supply and demand for foreign currency.
According to the regulator, several situational factors influenced the market this week. In particular, the intensification of hostilities in the Middle East increased volatility in global commodity and financial markets. In addition, at the beginning of the month, demand for foreign currency traditionally increases due to bank operations with cards and cash after weekends, updating limits on online foreign currency purchases by the population, and dividend payments by businesses.
As these factors disappear, the balance on the foreign exchange market gradually improves, which also affects the exchange rate dynamics.
The National Bank assured that it is closely monitoring the situation and will smooth out excessive exchange rate fluctuations if necessary. The volume of international reserves, according to the regulator, remains sufficient to maintain the stability of the foreign exchange market.
The NBU also emphasized that operations to exchange cash and non-cash currency between the regulator and banks will not affect the volume of Ukraine's international reserves.