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National Banks of Ukraine and Poland extend $1 bln currency swap line for another year
KYIV. April 6 (Interfax-Ukraine) – On April 6, the Narodowy Banka Polski (NBP) and the National Bank of Ukraine (NBU) extended the agreement on the swap line for the UAH/USD currency pair for another year, the NBP said on Thursday.
“The terms of the agreement will remain unchanged: the maximum transaction amount is the equivalent of $1 billion. The agreement, signed on April 11, 2022, was extended for another year with the possibility of extension,” the Polish central bank said.
The bank recalled that already on the first day of Russia’s full-scale invasion of Ukraine, it decided to provide the NBU with a swap line of up to $1 billion.
“The NBU did not actually utilize all the funding, as it acted as a “safety cushion” for Ukraine’s financial sector,” the NBU said in turn.
