NBU / Photo from UNIAN
The National Bank of Ukraine (NBU) has tightened rules for currency purchase for businesses under foreign trade contracts, ordering to buy or exchange currency under foreign trade contracts through one bank and clarifying the procedure of transfer contract servicing to another bank.
New provisions come with resolution 822 on changes to the order of foreign exchange trading, published on the regulator's website, which comes into effect today, November 27.
Read alsoNBU to block payment systems from market for violationsThe document reads that legal entities and residents-entrepreneurs have the right to buy or exchange currency for settlements under each foreign economic contract with a non-resident through one bank.
The client can transfer foreign trade contract servicing to another bank, in which case the client is obliged to allow access to information on outstanding balances under such contract. The bank that starts servicing the contract, will apply to the bank that has previously carried out settlements under the contract, to obtain all the information available regarding the outstanding balances. Information shall be exchanged via electronic means of the NBU.
Read alsoNational Bank buys $2.8 mln worth of foreign currency at auctionAs UNIAN reported earlier, yesterday, the NBU announced auctions for the purchase and sale of foreign currency on the interbank market, but they were not held. According to the regulator, the market has seen a balanced currency supply and demand, reached without interventions of the NBU. During the auction, the hryvnia exchange rate strengthened.
Yesterday, November 26, hryvnia quotations against the dollar on the interbank currency market as of 05:00 p.m. strengthened to UAH 23.45/23.60 to the dollar, according to a broker at a commercial bank. Trading was slow due to the public holiday in the U.S., and the dollar supply exceeded the demand. According to the NBU, the average rate of the hryvnia on the interbank market established by this time at 23.5973 UAH/USD. Market participants concluded 272 deals worth $286.86 million.