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

Auction date: September 19, 2014.

Foreign exchange offered in an auction: US dollars.

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

Minimum bid amount: 500 thousand US dollars.

Bids are to be submitted in electronic format via the software "System of Confirming the Agreements in the Interbank Foreign Exchange Market of Ukraine" by 3 p.m. EEST, September 18, 2014.

Each bank may submit an unlimited number of bids.  A bank has to specify the intended purpose of acquisition of foreign exchange in each bid.

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 is to be transferred to the account of the National Bank of Ukraine by 3 p.m. EEST on September 18, 2014.

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.