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Commercial banks start to limit sale of cash foreign currency and introduce commission charges for sale of dollars and euros
November 19, 2008 at 14:36 | Ukrainian News"The [cash] foreign currency is not sold. They can sell only for redemption of credits and that with commission charges of 3% on the dollars and euros," the information service of Pryvatbank told Ukrainian News on Wednesday.
According to the information department of OTP Bank, the bank charged commissions on November 18 with sale of cash foreign currency of 3.5 percent. The bank suspended the sale of dollars and euros from November 19.
"The commission charge was 3.5 percentyesterday. Today, we don't sell [cash] foreign currency. [The bank only can sell cash foreign currency] for redemption of credits. Mass purchase of foreign currency by the population is underway in the country in addition to the financial crisis," a representative of the OTP bank's information service said.
Ukrsotsbank does not limit sale of cash foreign currency. The bank charges 2.5% of commission with the sale of cash foreign currency.
"The commission charge is 2.5 percentwith operations of sale [of cash foreign currency]," the information service of Ukrsotsbank told Ukrainian News.
The Finance and Credit Bank charges 5 percent with sale of cash foreign currency.
In most cases commercial banks formalize the commission charges with sale of cash foreign currency as payment for settlement and cash services.
As Ukrainian News earlier reported, the National Bank of Ukraine in its resolution No.356 of November 7 obliged commercial banks to sell cash dollars and other cash foreign currencies at the exchange rate of being not higher than by 1.5 percentthan the official exchange rate from November 8.