Page 54 - UKRRptFeb19

The statement followed the regulator's decision made in December 2017 to extend the 50% compulsory sales of export proceeds received from abroad by legal entities due to the fact that this current level remains "an important instrument" for FX stability in the country. In April, the central bank reduced the limit for compulsory sales of export proceeds to 50% (from 65%), however, the NBU extended the 50% surrender requirements for FX proceeds received from abroad by legal entities due to "the need to preserve FX market stability".
Ukraine’s hryvnia actually strengthened against the dollar and the euro during 2018 . The hryvnia increased by 1.3% against the dollar and by 5.6% against euro, according to the National Bank of Ukraine. On Tuesday, the exchange rate for the dollar was UAH27.69. One year earlier, it was UAH28.06. Similarly, the hryvnia was UAH31.71 to the euro, compared to one year when it was UAH33.49.
8.0 Financial & capital markets 8.1 Bank sector overview
The Deposit Guarantee Fund last week sold insolvent banks' assets worth UAH 297.19 million in December , the fund's press service reports. In particular, UAH 194.59 million was received from the sale of creditors’ claims and UAH 102.19 million was obtained from the sale of main banks' assets. Also, UAH 0.22 million was received from the direct sale of banks’ property, and UAH 0.18 million - from the sale of other assets.
The Deposit Guarantee Fund received another UAH34.85mn ($1.23mn) in January from the sale of insolvent banks' assets instead of planned UAH4.33bn, the fund's press service reports. “Last week (January 2-4) assets of 11 banks, which are in the management of the fund, were sold for UAH34.85mn,” reads the report. In particular, UAH25.87mn was received from
54 UKRAINE Country Report February 2019 www.intellinews.com