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NBU canceled the mandatory sale of foreign exchange earnings for business|News

There was an epochal event for Ukrainian business

According to a press release from the NBU dated June 18, 2019, with the aim of further facilitating business in Ukraine, the National Bank abolishes the requirement for mandatory sale of foreign exchange earnings.

The norm, which obliges entrepreneurs to sell 30% of foreign exchange earnings on the interbank foreign exchange market, will cease to apply from June 20, 2019. Revenues earned on their distribution accounts during June 19th will no longer be subject to mandatory sale.

In this way, the National Bank continues currency liberalization in accordance with the roadmap, which provides for the gradual removal of all currency restrictions in line with the improvement of macroeconomic conditions in Ukraine.

The said amendments were approved by the Resolution of the Board of the National Bank No. 78 of June 18, 2019, "On Amendments to the Provisions on Protection Measures and Determining the Procedure for the Execution of Certain Transactions in Foreign Currency".