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Politics 2019-07-15T05:57:39+03:00
Ukrainian news
NBU Retains Existing Restrictions On Monetary, Forex Markets

NBU Retains Existing Restrictions On Monetary, Forex Markets

NBU, restrictions, monetary, foreign exchange markets

The National Bank of Ukraine (NBU) has retained the existing restrictions on the monetary and foreign exchange markets.

Ukrainian News Agency learned this from an NBU’s statement.

This decision is enshrined in Resolution 410 of the NBU Board on the settlement of the situation on the monetary and foreign exchange markets.

The existing limitations have been prolonged over the presence of the risks for price and financial stability.

In particular, the mandatory surrender of 65% of currency earnings by legal entities and the 120-day term of settlements for commodity export/import operations still apply.

The regulator also extended the one-day term of hryvnia reservation for purchasing foreign currency on the interbank market, and the ban on early repayment of loans taken from non-residents.

For natural persons, all restrictions remain in place: purchase of foreign currency for up to UAH 12,000 per day; the limit on withdrawing cash foreign currency from the account in the amount of up to UAH 250,000 per day; the ban to transfer abroad more than UAH 15,000 per day and UAH 150,000 per month.

The 1% limit of the overall long open FX position applies as before.

All restrictions but the surrender demand have been prolonged indefinitely.

The demand to surrender 65% of currency earnings by exporters is valid till June 16, 2017.

As Ukrainian News Agency earlier reported, the NBU introduced the restrictions on the FX market in February 2014 and prolonged them many a times.

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