National Bank of Ukraine, the NBU, steps in to pour $100 million into Ukrainian banks crippled by shortages of the hard currency cash.

On Thursday, it offered the first wide clearance settlement allowing 12 out of 14 major Ukrainian banks to replete their coffers with US dollars.

The similar effort is scheduled for September 12 when Ukrainian banks will be allowed to by euros ot ensure adequate liquidity.

‘We draw attention to the fact that cash shortage in bank office is temporary. It evolved by situational logistics difficulties [slowing] shipment of US dollars from abroad and it has to be resolved shortly,’ said National Bank of Ukraine in a statement.

Such operations will carry on as long as needed while the NBU recommends banks to increase shipments of the US currency to avoid such shortages. .

‘Operations of exchange of cash currencies for cashless one between the National Bank and banks will in no way impact the international reserves of Ukraine,’ said the NBU