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National Bank lifts restrictions on currency purchasing for credit funds

The changes are happening within the currency liberalization
21:10, 7 August 2019

Open source

The National Bank of Ukraine (NBU) allowed buying foreign currency for credit funds in hryvnia without limitation in amount, as the press office of the NBU informs.

It is expected that such changes will make it possible to manage liquidity more effectively and buy necessary amount of foreign currency for commitments implementation at a suitable time.

 “The monetary oversight for performing deadlines in payment of foreign economic operations is also developed. Banks are obliged to monitor export operations during 5 working days since receiving the information from the National Bank about changing of the servicing bank in a client’s Customs declaration,” says the message.

This will allow avoiding the dual control of customers’ operations.

The NBU ensures the currency liberalization is being imposed according to the success of the macroeconomic situation in Ukraine.

As we reported earlier, the international reserves of Ukraine increased by 5.8% ($1.27 million) in July, up to $21.8 million. The regulator notes that the growth took place due to the favorable situation at the currency market, operation of the government on management of the state debt and reassessment of the financial tools.

Related: Currency liberalization: What will population and business benefit?

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