The National Bank of Ukraine announces an auction for sale of foreign currency in exchange for hryvnias.

Auction date: September 8, 2014.

Foreign exchange offered in an auction: US dollars.

Type of transaction: sale of foreign exchange to satisfy the needs of clients.

Minimum bid amount: 1, 000 thousand US dollars.

Each bank is entitled to submit one bid in which it has to specify the purpose of acquisition of foreign exchange.

The amount of cash collateral in national currency to be reserved by the bank to pay for foreign exchange should amount to 100% per each bid at the rate set by the bank.

The cash collateral in national currency that will be used to pay for foreign exchange should be transferred to the account of the National Bank of Ukraine on September 4, 2014, before 3 p.m. Kyiv time.

The foreign exchange acquired in a foreign exchange auction should be used for intended purposes within 5 working days from the day this foreign exchange is credited to the correspondent account of the authorized bank. The bank is obliged to sell back foreign exchange in an amount exceeding USD 1000 that has not been used for its intended purpose to the National Bank of Ukraine.

If the remaining amount of unused foreign exchange does not exceed USD 1,000, the bank may use it for other purposes.