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National Bank of Ukraine to keep a portion of currency reserves in Chinese Yuans

On 14 November 2011, the National Bank of Ukraine went on record that they had reached arrangements on signing a treaty between the National Bank of Ukraine and the People’s Bank of China on the currency swap, from the end of 2011. Execution of the specified treaty will enable economic entities in both countries to use the national currencies for performing export and import transactions and payment settlements in the national currencies, w/o having to use other countries’ currencies.

As was reported before, the National Bank of Ukraine carries out activities on currency diversification for payments with key trade partners of Ukraine, both with EU countries and, particularly, China, and other countries.

 

Source: the National Bank of Ukraine

 
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