KIEV, Oct. 31 - The National Bank of Ukraine has instructed the nation's commercial banks to set their exchange rate no higher than UAH6.3 /$1.


"Given the level of the weighted-average U.S. dollar rate as a result of trading on the interbank currency exchange for Oct. 30, 2008, we believe it advisable to set the dollar sell rate for the public on the cash market at no higher then UAH 6.30. Bank managers bear personal responsibility for fulfilling this requirement. The NBU will treat failure to comply as a violation by authorized banks of the rules and terms of foreign currency trading," said the central bank in a letter signed by NBU First Deputy Governor Anatoliy Shapovalov and sent to banks on Thursday,the letter.