Emerging Markets Rates and Currencies Handbook

Ukraine (UAH - Ukrainian Hryvnya) Citi in Ukraine Citi has been present in Ukraine since 1998 and has a broad corporate client base, among which are multinational companies, large local corporates, different financial institutions and banks. Market Overview Since February 24, 2022 the Martial Law has been in force throughout the territory of Ukraine. The outbreak of full scale war in Ukraine had prompted the NBU to introduce restrictions on foreign exchange transactions and renew strict capital controls in Ukraine. The restrictions included introduction of a fixed official exchange rate of UAH to USD. The market rate is pegged to official rate. The maximum deviation from fixing is 1%. Main Currency Pairs: USDUAH (70%); EURUAH (30%); rest is mostly GBPUAH, PLNUAH and CHFUAH. IR market presented mostly by Government bonds denominated in UAH, USD and EUR. Most liquid market is up to 2Y UAH bonds maturity. UONIA—Ukrainian Overnight Index Average, calculated and published by NBU. Convertibility Ukrainian Hryvnya is a restricted currency with regulated convertibility. 165