Relaxed requirements of currency restrictions

Relaxed requirements of currency restrictions
The site of the NBU issued a press release titled "Improving the conditions for the receipt of foreign currency into the economy of Ukraine." According to succumb to a press release of information, the National Bank from October 23 weakens restrictions on the foreign exchange market with a view to the gradual liberalization of currency regulation.


The Decree of the Office of the National Bank of Ukraine on October 22, the regulator said number 718 to permit banks to buy foreign currency from individuals without restrictions and easing restrictions on the issuance of cash in local currency at the cash desks and ATMs.


Recall that earlier in the banks in the foreign exchange transactions by individuals acted cash withdrawal limit to 300 thousand hryvnia / day per person. After the abolition of restrictions Ukrainians can sell the currency in any volume.


A press release from the regulator said that its decision it improves the terms of cooperation of Ukraine with foreign partner countries and international organizations, removing the requirement of mandatory sale of foreign exchange in the interbank market, which was obtained as a guaranteed payment of participation of non-resident in the bidding for the purchase of state property .


In approving this resolution, so that the National Bank intends to increase the foreign currency proceeds to Ukraine and its banking system.


As for export, there is the National Bank said its control requirements, taking into account the features of telecommunications companies. At the request of the regulator authorized them, banks must monitor export transactions customers even in the case of documentary evidence of the termination of the obligations on a net basis in the currency subject to mandatory sale. According to the new specification for this requirement to be exposed to the operation carried out by telecommunications companies to pay for international roaming and international traffic.
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