A controversial court decision on PrivatBank introduced a tension in the foreign exchange market of Ukraine
After the decision of the District administrative court of Kiev recognized illegal and cancelled the decision on a conclusion of insolvent Bank from the market with state participation in the foreign exchange market became restless. The cash dollar exchange rate has reacted to news growth of quotations by 10-20 cents to 26.9 and 27.1 UAH/USD. At the same time the dollar on the interbank market showed a slight increase by 10 cents trading at the opening of yesterday's 26,71/26,74 to 26.84/26,89 per dollar due to the excess of demand over supply, but later active sales of foreign currency sellers lowered quotes to the closing of the session to 26.83/26.86 hryvnia per dollar. The court's decision had no impact on the interbank currency exchange rate.
NBU together with the Ministry of Finance of Ukraine and PrivatBank management has already declared that will appeal against the decision of the court, and yesterday the President held a special meeting of the NSDC of Ukraine on this issue.
the President of Ukraine Petro Poroshenko appealed to the Ukrainian security Service and Prosecutor General with a request to initiate a criminal case for unjust decision on the illegality of the nationalization of PrivatBank, as well as to the High qualifications Commission of judges to expedite qualification evaluation, including, and in terms of virtue, to restart the District administrative court of Kiev and to ensure that to pass judicial reform.
Court decision on PrivatBank is more of a political nature on the eve of the last day of campaigning and debate of candidates in Presidents of Ukraine, which will take place today.
presidential Candidate Zelensky, who most likely has the support of Kolomoisky-the former owner of PrivatBank, has said it will defend the interests of the state and the people of Ukraine in this issue. Right now, the former owners of the Bank are about 500 legal cases concerning the nationalisation of a Bank in courts of Ukraine and other countries. As a reminder, all property Kolomoisky arrested by the Ukrainian court and the high court of London.
