KIEV, Aug. 10 – The Ukrainian Credit-Banking Union has warned that there is a risk of the national currency exchange rate collapsing if a 3% fee to the Pension Fund on the purchase foreign currency proposed by the State Tax Service is set.

"In the past, the pension fee was introduced in Ukraine as a temporary measure and it was canceled in 2010 to ensure the full-scale functioning of the currency market and to implement the requirements of the IMF [International Monetary Fund]. In addition, the pension fee in 2009 was 0.2%, which is 15 times less than the proposed rate as a part of 'liberal' tax changes of the State Tax Service," the press service said, citing UCBU Director General Halyna Olifer.