As I mentioned earlier, the Federal Reserve's quick response to the stock market crash of 1987 is noteworthy because it meant that only a small amount of liquidity, and no direct lending, was needed to restore normal market conditions. BIS Review 123/2007  5  Although the provision of liquidity is undoubtedly a useful tool, it is not without potential costs.
Thus, the hryvnia appreciated slightly, and the NBU returned to moderate purchases of foreign currency to replenish international reserves. We also quickly resolved the issue of cash FX deficit due to stalled air transportation. The NBU ensured that the supply of dollar and euro cash to Ukraine would continue, and made weekly transactions to exchange cash for noncash currency.