REUTERS
The regulator also plans to completely lift this restriction.
The National Bank of Ukraine (NBU) has eased some restrictions on the forex market for businesses, raising the limit on repatriation of dividends from EUR 7 million to EUR 12 million.
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The move is not expected to affect macroeconomic and financial stability in Ukraine, yet it will be conducive to a better investment climate in Ukraine, the regulator said on its website, referring to Resolution No. 66, coming into force on May 8.
This is already the second time when the limit on the withdrawal of dividends has been raised since the beginning of 2019, after it was upped to EUR 7 million in February. The new limit meets the needs of all companies with foreign investment operating in Ukraine, it said.
The regulator also plans to completely lift this restriction, as well as introduce other forex liberation measures, depending on the pace of macroeconomic improvements and market developments.
UNIAN memo. The law of Ukraine on currency and currency operations, which lifted about 30 restrictions on the country's forex market, came into effect on February 7. The law extended the period of settlements under export-import contracts and allowed legal entities to freely use their foreign accounts while non-residents were allowed to use accounts in Ukrainian banks.
Moreover, starting from February 7, businesses were able to repatriate dividends for 2018 within EUR 7 million per month and buy foreign currency on any given day without prior booking the funds. From March 1, the share of mandatory forex sale by exporters was lowered from 50% to 30%.