From open sources
The national Bank has reduced the requirement for sale of foreign currency revenue legal entities to 50%. This is stated in the resolution of the regulator “On introduction of changes into the resolution of Board of National Bank of Ukraine from December 13, 2016 No. 410”.
From now on, legal persons will have to not to sell 65%, and 50% of their foreign exchange earnings.
According to the press service of the NBU, the move is aimed at further promoting export activities of Ukrainian companies that need to import for production, which subsequently sold abroad.
“This will reduce for such enterprises, exchange rate risks and expedite foreign trade operations. At the same time, this weakening will not lead to a reduction of foreign currency supply on the interbank market, because today the enterprises sell much more foreign exchange earnings than are required, more than 90%,” – said in the message .
Recall that the national Bank in November 2012 introduced 6 months the mandatory sale of 50% of foreign exchange earnings and then repeatedly extended this requirement. August 2014 mandatory sale requirement was increased to 100% and after some time declined.
Recall that yesterday the IMF Board of Directors approved the allocation of Ukraine 1 billion dollars. tranche of the EFF program, and the national Bank said that the decision of the IMF will contribute to the relief measures in the foreign exchange market of Ukraine.
Within the mitigation Bank today eased the restrictions on the sale of currency population, from 12 thousand UAH/day up to 150 thousand UAH per day equivalent.
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