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Ukrainian banks to sell individual customers foreign currency for non-cash hryvnia

Source : 112 Ukraine

Besides, the banks will be able to hold operations on the purchase and sale of banking metals
12:43, 30 June 2021

TASS

The Ukrainian banks will be able to sell cash foreign currency to private persons for non-cash funds in hryvnia from June 30 as the National Bank of Ukraine (NBU) reported.

“Authorized establishments will be able to sale cash foreign currency to private persons for non-cash funds in hryvnia through payment devices with the use of the electronic payment rail of the private person who holds the operation,” the message said.

Besides, the banks will be allowed to purchase and sell cash foreign currency to private persons for non-cash funds in hryvnia at the pay-offices of authorized establishments, their detached branches, and offices of exchange of foreign currency.

Related: National Bank keeps refinancing rate at 7,5%

Moreover, starting from today, the banks will be able to hold operations on the purchase and sale of banking metals with physical delivery for non-cash funds in hryvnia to private persons, as well as the operations on sale of banking metals in the form of the coins to the entities.

Besides, the National Bank of Ukraine has extended the possibilities of the citizens on the investment overseas: private person-resident can hold relevant operations with the participation of resident-seller of financial credit documents.

“To hold an investment in the foreign financial tools, the seller will act as a broker (at the expense of such a private person). Thus, the funds in the foreign currency will be transferred from the current account of a citizen at the bank to the current account of the seller opened at the same bank with the further transfer overseas or current accounts of non-residents opened in Ukraine,” the National Bank said.

Related: Council of the National Bank dismisses Sologub from post of Deputy Chairman

The NBU also specified the list of exceptions from the annual e-limit for a number of exchange operations of entities and private persons-entrepreneurs. Particularly, such operations include the refund by the resident-debtor of the funds to the non-resident guarantor who carried out the commitment provided by the guarantee or warranty of the resident-debtor before the resident-creditor.

As we reported, the National Bank of Ukraine plans to start introducing electronic hryvnia. The corresponding item is contained in the new NBU Strategy until 2025.

Besides, the National Bank signed a memorandum with the international payment systems Visa and Mastercard. According to the Memorandum, the signatories will work on competition in the payment market of Ukraine.

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