The National Bank of Ukraine has adopted a decision to conducts inspections at 8 authorized banks in order to assess compliance by these banks with the foreign exchange legislation.

The move has been prompted by claims that when conducting operations in the interbank foreign exchange market of Ukraine these banks were involved in the rigging of exchange rates, which had a destabilizing effect on the hryvnia exchange rate and triggered negative expectations about the future hryvnia exchange rate dynamics.

Access to the System of Confirming the Agreements in the interbank foreign exchange market of Ukraine has been suspended for the above-mentioned banks throughout the duration of inspections conducted at these banks.