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Europe wants to make payments in hryvnia
28.11.2011 14:31 "Agro Perspectiva" (Kyiv) —
The National Bank of Ukraine (NBU) has said that Europe is interested in expanding the international circulation of the hryvnia. Director of the NBU’s Department for Management of Foreign Exchange Reserves and Open Market Operations Oleksandr Dubykhvist announced this at a meeting of the financial press club entitled «Foreign exchange resources: how to keep them in the banking system and make them work on the economy?» which was conducted with the support of the USAID’s Financial Sector Development Project (FINREP) and the Mirror Weekly Ukraine publication.
«Payments in the hryvnia under export and import contracts have been conducted in our country for a long time. However, according to our legislation that was adopted long ago, these payments are limited to the CIS. Our goal is to remove these limitations that we believe are already out of date,» he said. He said that this could be especially useful in the context of holding the finals of the EURO 2012 European Football Championship. «People want to receive our hryvnia ahead of EURO 2012 and export in order to trade in their countries, because fans will come, and they will partially make payments using plastic cards, and sometimes using cash. The question of giving them an opportunity to come here with hryvnias is also being considered,» the NBU representative said.
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