Central Bank of Belarus and Ukraine agreed to hold a currency swap transaction, according to a press release of information the National Bank of Belarus (NBB), on the basis of the July 22 meeting in Minsk the advisory board with representatives of the National Bank of Ukraine (NBU).

The parties agreed to continue the work to develop mutually acceptable approaches to the convergence conditions for the functioning of the Belarusian and Ukrainian banks in foreign exchange transactions and payment-settlement relations, as well as opening credit lines (a swap transaction) between the National Bank of Belarus and National Bank of Ukraine , - stated in a press release.

As noted at the meeting, the resolution of these and other questions will allow maximum use of national currencies in payments between economic entities of both countries, - stresses the management of information NBB.

The meeting also discussed the development of the NBB and the NBU of tools and principles for the management of current liquidity of the banking sector, development of deposit insurance, the practice of international financial reporting standards.

next, tenth meeting of the board is scheduled to be held in the IV quarter of 2009 on the territory of Ukraine in Sumy.
NBB

Advisory Board and the NBU was created in May 2002 to promote the development of foreign economic relations between the two countries, currency markets and payment systems, improve the environment for economic entities.

As previously reported, the BNB in March this year agreed to a swap deal with People's Bank of China, involving an amount of yuan in the equivalent of almost $ 3 billion in exchange for the 8 trillion Belarusian rubles.

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