From today, current quotes and data on turnover in the interbank foreign exchange market transactions will be posted on the official website of the National Bank of Ukraine on a daily basis. The move is aimed at ensuring transparency and comprehensibility of interbank foreign exchange market developments.

Real-time interbank foreign exchange market data will be published after the official exchange rate of the National Bank of Ukraine is made available to the public by 2 p.m. and will be updated in real time from 3 p.m. until 5 p.m.

The publication of current quotes and data on turnover in the interbank foreign exchange market transactions will help reduce the chance of manipulating information on current exchange rate movements during the business day. This will also make it possible to monitor the actual situation and developments in the foreign exchange market, which ultimately produce a weighted average of exchange rates quoted by buyers and sellers.

For example, on August 13, some mass media gave conflicting interpretations of the closing interbank exchange rate, which was UAH 13.50 per USD 1. However, the exchange rate recorded at the close of a trading session did not reflect the overall trend in the interbank market as it was based on a single transaction, whereas the actual exchange rate averaged around UAH 13.10 per USD 1 according to the trading results.

Under the Stand-by Arrangement, in April 2014, the National Bank of Ukraine changed the procedure for setting the official hryvnia exchange rate against foreign currencies. It is currently set in the middle of the business day as a weighted average of exchange rates quoted by buyers and sellers on Ukrainian interbank foreign exchange market.