OREANDA-NEWS. On October 15, 2014, the National Bank of Ukraine intervened in the foreign exchange market by selling foreign exchange earmarked for banks' cash departments at the single exchange. According to the results of a regular foreign exchange intervention, the National Bank of Ukraine accepted 91% of the bids worth USD 99.77 million submitted by 50 banks at the exchange rate of 12.95 UAH = 1 USD.

By carrying out foreign exchange interventions at the single exchange rate, the National Bank has been able to meet banks' demand for foreign exchange to a large extent.

At the same time, in order to prevent misuse of funds purchased by banks through foreign exchange interventions, the National Bank of Ukraine exercises close control over the availability of foreign exchange in banks' cash departments and banks' compliance with foreign exchange laws. All the foreign exchange acquired by banks through foreign exchange interventions should be used for intended purposes within 5 working days. The unused foreign exchange should be sold back to the National Bank of Ukraine the next day after termination of this period. The National Bank of Ukraine will apply administrative sanctions against those banks that violate the foreign exchange intervention rules.