Warsaw, March 22 (Korea Bizwire) – Narodowy Bank Polski is pleased to announce that it has won an award confirming the effectiveness of protection of the value of the Polish currency and its management by Narodowy Bank Polski – Central Banking “Currency Manager” Award . The award was given for currency management in the face of Russian aggression in Ukraine. The NBP and the NBU were appreciated for their decisive and quick reaction.
Professor Adam Glapiński, President of the National Bank of Poland, commented on the award : “On behalf of the National Bank of Poland, which I have the honor to manage, I would like to express my joy that the latest edition of the “Currency Manager” of Central Banking was awarded jointly to two closely cooperating central banks – the National Bank Polski and the National Bank of Ukraine. The award confirms the effectiveness of protecting the value of the Polish currency and managing the currency by the National Bank of Poland.
“The cooperation of our banks, although it has been going on for decades, has acquired a special character and importance in the face of Russia’s bestial attack on Ukraine, which caused, among other things, high inflation, disruptions in financial flows and a huge influx of refugees from Ukraine, of whom about 1.5 million still find shelter in Poland.
“In response to the crisis caused by Russian aggression, the National Bank of Poland undertook numerous assistance activities to help Ukrainian citizens by supporting the central bank of Ukraine in maintaining the continuity of the country’s financial system, such as a swap line for the USD/UAH currency pair up to USD 1 billion, in-kind support, putting the topic of support for Ukraine on the agenda of international institutions, and finally offering Ukrainian citizens fleeing the war the possibility of exchanging their currency from hryvnia to zlotys. Thanks to this initiative, from March 25 to September 9, 2022, over 100,000 Ukrainian citizens were able to exchange hryvnias for zlotys, obtaining funds to meet their basic needs in the most difficult moments of Ukraine.
“We are very happy that the jury appreciated the NBP’s initiative by awarding the Central Banking “Currency Manager” Award – we acted in the spirit of solidarity with our neighbor and concern for macroeconomic stability in the region. Admiring the heroic attitude of our Ukrainian friends in the face of war and their readiness to provide further assistance, Narodowy Bank Polski eagerly awaits the times of peace that will follow – let us all hope – a quick victory for Ukraine.”
More information about the National Bank of Poland program for Ukraine at: https://nbp.pl/kategoria/aktualności/nbp-stoiska-z-ukrainą/
Central Banking Awards
The Central Banking Awards recognize the excellence of a community that has faced significant political and operational challenges in the face of increased inflationary pressures, rapid technological change, and environmental change. Many institutions have also made significant improvements in governance, operations, communications, economics, currency, reserves, and market infrastructure capabilities.
In 2023, the Central Banking Awards were granted for the tenth time.
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Source: Narodowy Bank Polski via GLOBE NEWSWIRE