The National Bank’s antirecessionary measures adopted in late
December 2014 relieved the currency market to some extent. In February
2015, some restrictions
in the banking sector will be lifted in order to demonstrate that the
financial system is under control. However, the fragile stability on the
financial market requires substantial foreign borrowing to sustain.
In late December 2014, aiming to stabilise the financial market situation, the National Bank adopted a number of measures, envisaging to restrict the demand for foreign currency in order to preserve the international reserves’ levels. These measures included restricting foreign currency sales to the population by the amounts supplied by the population. A tax on buying foreign currency had been introduced which was later waived. An additional factor, which has reduced the demand for foreign currency, was the introduction of price regulation, which, in turn, led to importers stopping their activity, and, reducing the foreign currency demand on the forex.
Read more at Click here / www.trade4x.net
In late December 2014, aiming to stabilise the financial market situation, the National Bank adopted a number of measures, envisaging to restrict the demand for foreign currency in order to preserve the international reserves’ levels. These measures included restricting foreign currency sales to the population by the amounts supplied by the population. A tax on buying foreign currency had been introduced which was later waived. An additional factor, which has reduced the demand for foreign currency, was the introduction of price regulation, which, in turn, led to importers stopping their activity, and, reducing the foreign currency demand on the forex.
Read more at Click here / www.trade4x.net
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