National Bank of Ukraine (Central Bank of Ukraine)
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The National Bank of Ukraine is the central bank of Ukraine. Before the USSR’s division the National Bank of Ukraine was a branch of the Central Bank of the USSR. Officially, the National Bank of Ukraine started acting as the central bank of the country from 1992.
The National Bank of Ukraine is the central bank of Ukraine. Before the USSR’s division the National Bank of Ukraine was a branch of the Central Bank of the USSR. Officially, the National Bank of Ukraine started acting as the central bank of the country from 1992.
The National Bank of Ukraine is a juridical person. According to Article 99 of the Constitution of Ukraine, the main objective of the National Bank of Ukraine is to ensure monetary stability in the country. To carry out its major function, the national bank shall foster the stability of the banking system and within its competence, the price stability.
As the central bank of the country, the bank is required to undertake the following activities:
- To determine and pursue the monetary policy of the country
- To issue the national currency and organize its circulation
- To supervise the activities of the banking system in the country
- To organize and provide methodological support to the monetary, crediting and banking statistical information
- To compile, analyze and forecast the balance of payments
- To hold and manage the gold and foreign exchange reserves of the country
- To license banking businesses in the country
- To take part in the training of the personnel of Ukraine’s banking system
- To exercise other functions in the monetary and crediting sphere within its competence defined by the law
- The administration of the bank is in the hands of a Board of Directors, which consists of the Governor, four Vice-Governors and nine other directors.
