KIEV, May 30 – The National Bank of Ukraine plans to change the functioning of foreign currency interbank system to provide clearer understanding of demand and supply and an unbiased market exchange rate, according to NBU Chairman Volodymyr Stelmakh.
"We'll change the rules and introduce a so-called direct interbank foreign currency market... This means that the bank should bring applications from clients at an exchange rate that they set themselves to the interbank, and not decide by themselves whom to sell to. The same thing goes for purchases, which will make demand and supply clear for all. It would be an unbiased [way] to determine the level of the market exchange rate," he said at a press conference in Kiev on Friday.
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