The National Bank of Ukraine is entering into a currency swap agreement with Sveriges Riksbank. The agreement covers the purchase and sale of a maximum of USD 500 million against the Ukrainian hryvnia.

The aim of the agreement is to increase confidence in Ukraine's economic reform programme. "The funds received under the agreement will be used to increase Ukraine’s international reserves," says Governor of the National Bank of Ukraine Valeriia Gontareva.

The National Bank of Ukraine has also concluded an agreement with the Swedish central bank on what is known as "technical assistance" for Ukraine. This means that the Riksbank will cooperate with the National Bank of Ukraine to transfer knowledge within important central-bank-related areas. The purpose of technical assistance is to strengthen the central banks of other countries and in this way contribute to economic development and stability in recipient countries.

The swap agreement with the Riksbank will run for six months starting from September 16, 2015.