KIEV, June 17 – The National Bank of Ukraine has insufficient authority to cover all aspects of currency regulation and quickly react to changes on the currency market and advocates the adoption of a separate law on currency regulation, said Serhiy Ponomarenko, director of the open markets department at the NBU.

"The NBU does not have all powers to regulate the currency market. For example, our recent regulation to facilitate currency exchange transactions when we revised paper turnover, relaxed procedures and permitted banks to change the exchange rate during one day. All decisions were made by the NBU two months and a half ago, but only now we have managed to implement them. These resolutions required approval by the Finance Ministry and other public agencies participating in the functioning of the currency market," he said at the Ukrainian Corporate Treasurers’ Forum held on June 16 and June 17 in Kiev.