National Bank Bolsters Cash Reserves for Banks with Currency

On March 9, 2026, the National Bank of Ukraine (NBU) conducted currency exchange operations, declaring an amount of $100 million and €80 million in cash foreign currency for banks. Five banks participated, submitting four requests totaling $53.1 million and four requests for €42 million.

All applications were fully satisfied. The following day, on March 10, the NBU also provided $100 million and €35 million.

In this round, only one bank participated, submitting a total application of $20 million and €10 million, which was also fulfilled in its entirety. The NBU noted that the moderate demand for cash currency exchanges indicates that banks currently possess a sufficient reserve of cash foreign currency, limiting their need for additional support.

Such operations are designed to ensure liquidity within the banking sector, allowing banks to meet customer demands for cash transactions. As stipulated by the regulation that governs these operations, only banks designated as systemically important can participate.

This measure ensures that essential financial institutions maintain adequate liquidity to support the broader economy. Should other banks require cash currency to support their operations, the NBU encourages them to reach out to these systemically important banks.

Furthermore, the NBU emphasized that these currency exchange activities would not impact Ukraine's international reserves. The bank's management believes that these measures are crucial in maintaining stability and confidence within the banking system.

The underlying objective remains to ensure that banks are equipped to handle day-to-day operations efficiently and safely. Overall, the bank's actions are a proactive approach to managing the nation's currency needs amid ongoing economic adjustments.

By ensuring adequate liquidity and addressing the needs of both banks and their customers, the NBU aims to foster a stable financial environment conducive to economic growth.