Ukrainians buy $52 mln via online banking since Feb 7

REUTERS Ukrainians have bought $52 million via online banking since February 7, 2019, when a new law on forex liberalization became effective. Ukrainians continue actively using online banking for forex transactions as it is more convenient than currency exchange booths, the National Bank of Ukraine (NBU) said on Facebook. Read alsoUkrainians sell $942.5 mln in cash via banks in Feb "So, in the first month of the new currency regulation, the population bought about $52 million while Ukrainian companies signed over 100 new loan agreements with non-residents, using online banking," the NBU said. In addition, after the cancellation of licenses for investment abroad, individuals and legal entities are actively investing within the allowed electronic limits, which are EUR 2 million for legal entities and EUR 50,000 for individuals per year. Investment by Ukrainian companies and individuals abroad amounted to EUR 9.7 million in the first month after the cancellation of licenses, the NBU said. UNIAN memo. The Law of Ukraine "On Currency and Currency Transactions," which lifts over 20 restrictions on the country&#39;s forex market, came into effect on February 7. The law increases the terms for settlements under export-import contracts and allows legal entities to freely use their foreign accounts, while non-residents are allowed to use their accounts in Ukrainian banks. In addition, individual licenses for currency transactions are canceled, while online forex trade by individuals is allowed. The limit on currency transfers abroad for individuals without opening bank accounts is increased 10 times. Moreover, starting from February 7, businesses are able to repatriate dividends for 2018 within EUR 7 million per month and buy currency on any given day without prior reservation of funds. Moreover, from March 1, the share of mandatory sale of foreign currency by exporters declined from 50% to 30%.

Ukrainians buy $52 mln via online banking since Feb 7

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