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Ukraine cbank bans foreign currency forward contracts

Source: Reuters - Fri, 28 Feb 2014 11:24 GMT
Author: Reuters
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KIEV, Feb 28 (Reuters) - Ukraine's central bank banned non-deliverable forward contracts for foreign currencies as part of measures it announced on Friday to shore up the hryvnia currency, which hit historic lows the previous day.

Earlier, Central Bank governor Stepan Kubiv said depositors of foreign currencies would be limited in their withdrawals to the equivalent of 15,000 hryvnia a day, or around $1,500. He also said his staff would look into the trading of 16 unnamed banks to see whether they had illegally speculated in the market.

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