KYIV, July 29 – Nonbank currency exchangers, which account for three-quarters of the official cash market, have begun to artificially increase the exchange rate in the cash segment of the foreign exchange market, effectively supporting the existence of "ATM tourism," the National Bank of Ukraine (NBU) said on Friday and imposed restrictions on their work.
"Such an increase in the exchange rate looks unreasonable amid a relative stabilization of supply and demand in the noncash segment of the foreign exchange market and may indicate exclusively speculative approaches to exchange rate setting by nonbank institutions," the regulator said in a press release on Friday.
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