REUTERS
Given the current macroeconomic situation, the National Bank of Ukraine is pushing ahead with the liberalization of forex regulation and controls by easing restrictions that have become inefficient, the NBU press service reports.
The NBU has simplified the terms and procedure for some transactions involving the purchase and transfer of foreign currency.
The regulator has simplified the rules governing the purchase and transfer of foreign currency under transactions in domestic government bonds carried out by foreign investors. In addition, the NBU has set out the rules for carrying out transactions in domestic government bonds received by foreign investors through the conversion of depository receipts into domestic government bonds by the foreign bank.
Read alsoUkraine fulfills all criteria of cooperation program with IMF - NBUBesides, in cases where settlements under foreign investment operations and the subsequent return of foreign investment are carried out through a single bank, a customer is allowed to submit a smaller package of documents, on which such transactions are based;
The regulator has also set out the rules governing the purchase of foreign currency for the purpose of fulfilling liabilities in foreign currency by resident guarantor (surety) under the loan agreements signed with authorized banks.
Read alsoUkraine cancels mandatory use of seals in businesses These steps will cause no destabilization impact on the FX market, while making it easier to perform operations involving export/import of capital and improving the regulatory framework of the NBU, the report says.
The amendments to this effect have been approved by NBU Board Resolution No. 65 of July 18, 2017, On Amendments to the Regulation On Procedure and Conditions of Foreign Exchange Trading, which shall come into force on July 20, 2017.