The National Bank has introduced amendments to the procedure of holding daily foreign currency auctions. The today’s auction has been held based only on competitive bids of banks, including the amount and exchange rate, as per which the auction participant intends to sell currency to the regulator, the Ministry of Finance reports.
Previously, during auctions the banks could submit the bids of two types: competitive and noncompetitive. NBU accepted all submitted competitive bids, in case if the currency value as per them were lower than the cut-off price at the auction. Noncompetitive bids were accepted at average weighted rate of the auction.
