The National Bank of Ukraine and Narodowy Banka Polski signed a UAH/USD swap agreement for USD 1 billion in equivalent.
"All the help and support provided by Narodowy Banka Polski is hard to overestimate. Funds received under the FX swap agreement will increase our international reserves and help us to maintain macrofinancial stability of Ukraine. We are grateful to our colleagues for cooperation and the vote of confidence," said NBU Deputy Governor Yuriy Heletiy.
The decision on FX swap with Ukraine was made by the NBP Board on the first day of russia’s invasion in Ukraine, on 24 February 2022. Since then, intense efforts were put to prepare for the transaction and resolve technical issues.
On 21 March 2022, the UAH/USD Swap Agreement between the central banks of Poland and Ukraine came into force. The agreement will be valid for one year and can be prolonged.