NBU seeks to stir up transactions with currency swaps

The National Bank of Ukraine (NBU) seeks to stir up transactions with currency swaps on the interbank market, Deputy NBU Governor Oleh Churiy has told Interfax-Ukraine.

"Our plans to develop hedging tools include the more active usage of the tools like swap. This would help to expand liquidity of the entire market," he said in a blitz interview with Interfax-Ukraine.

He said that the need in tools for hedging currency risks has grown after the NBU switched to the floating currency exchange rate.

"The exchange rate is not fixed. It is floating. Companies should be protected in some way from these risks," Churiy said.