UNIAN
The National Bank introduced new rules for foreign exchange transactions.
From January 1, 2019, the purchase and sale of foreign currency are allowed through payment terminals and ATMs across Ukraine, according to decree No.63 of the National Bank of Ukraine.
Introducing new rules for foreign exchange transactions, the National Bank provided an opportunity for banks and financial institutions to carry them out through payment devices.
After these institutions upgrade relevant software, individuals will be able to sell and purchase foreign currency in cash using payment terminals and ATMs.
The NBU decided to streamline forex transactions by banks and other financial institutions back in June 2018. A six-month transition period was granted to financial institutions for the implementation of new requirements on the issue.
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According to the new rules, if the amount of the forex transaction does not exceed the daily limit set for today (UAH 150,000), banks and other financial institutions are no longer entitled to require the client to provide personal data and a signature on receipts.
As UNIAN reported earlier, on June 21, the Verkhovna Rada adopted as a whole the Law “On Currency and Currency Transactions”, which replaces the outdated Cabinet Decree “On the system of currency regulation and currency control” of 1993 and implies the principle “everything is allowed that is not directly prohibited by law.”
The law will come into force on February 7, 2019.