NBU Reduces Maximum Sale Of Foreign-Currency Cash

Photo: PHL

The National Bank of Ukraine has reduced the maximum amount of foreign-currency cash that can be sold to a single person per day to the equivalent of UAH 3,000.

The National Bank of Ukraine announced this in a statement on Facebook.

"Given the increased tension in the cash segment of the foreign-exchange market, the resolution provides for reduction of the maximum amount of foreign-currency cash that can be sold to a single person in a single operating (working) day to an amount not exceeding the equivalent of UAH 3,000," the statement said.

This restriction does not apply to purchases of foreign-currency cash by resident individuals for the purpose of fulfilling their foreign-currency obligations under loan agreements concluded with authorized banks.

This is confirmed by the National Bank of Ukraine resolution No. 591, which will come into force on September 23.

In addition, the resolution provides for introduction of additional anti-crisis measures in the area of performance of certain foreign-currency transactions (import of goods without their transportation onto the territory of Ukraine, transfer of foreign currency out of Ukraine by residents for the purpose of redeeming corporate rights from non-residents, performance of operations based on individual licenses issued by the National Bank of Ukraine etc.).

These measures are exclusively temporary, and they will be canceled immediately after minimization of the relevant negative factors on the foreign-exchange market.

As Ukrainian News earlier reported, the National Bank of Ukraine has decided to reduce the proportion of foreign-currency earnings that exporters are required to sell from 100% to 75%.

Source: Ukrainian News