Economy 2021-12-15T06:50:00+02:00
Ukrainian news
NBU Considering Lifting Regulation Requiring Exporters To Sell Foreign Currency

NBU Considering Lifting Regulation Requiring Exporters To Sell Foreign Currency

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NBU, sale, foreign currency, exporters

The National Bank of Ukraine (NBU) has stated it considers cancelling an obligation for exporters to sell foreign currency received from trade operations.

Acting Chairperson of the National Bank of Ukraine Yakiv Smolii has said this at a parliamentary meeting of the Radical Party parliamentary faction, Ukrainian News Agency reports.

"We want to remove this regulation - the mandatory requirement to sell foreign currency by exporters - as it constrains exporters. I think we will carry out this de-regulation this year," Smolii said.

Smolii added that the National Bank intended to cancel one by one all currency regulations.

In December 2017, the Central Bank remained the requirement of the mandatory sale of minimum 50% of foreign currency paid into Ukrainian accounts of legal entities.

As Ukrainian News Agency earlier reported, in June 2016, the NBU lowered the required minimum of sale of foreign currency received from trade operations from 75% to 65%, and then in April 2017 from 65% to 50%.

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