The National Bank of Ukraine hosted an auction at which banks could exchange foreign currency for hryvnias on Friday.

With a minimum bid requirement of 500 USD, the auction offered an exchange of the foreign currency to help the bank's clients.

There was no limit on the number of bids banks could submit, though each submission had to be accompanied by a brief summary of how the funds will be used.

Foreign currency obtained from the auction should be spent on its proposed purposes with five days of receipt.