National Bank changing forex rules

Earlier, it was only the banking institutions participating in international payment systems which were allowed to transfer funds for the placement of guarantee deposits to ensure transactions.

In addition, the NBU clarified the procedure for the application of exceptions for the prohibition of early repayment of foreign currency loans, received by residents from non-residents. Such exceptions include all types of payments under certain credit or loan agreements, that is, principal payments, taking into account interest and other payments established by the contract.

Read alsoUkrainian MPs propose legalization of cryptocurrency transactions"The said changes will facilitate proper conditions for participation of non-banking financial institutions in international payment systems, as well as further development of economic relations in Ukraine. At the same time, they will not lead to additional pressure on the forex market," the report said.

As UNIAN reported earlier, the National Bank published proposals for legislative changes necessary for the implementation of the liberal model of the country's currency regulation, which, after discussion, would be submitted to the National Council for Reforms.

According to the regulator, a number of steps on currency regulation liberalization are possible immediately after the entry into force of a new law on currency. However, full liberalization is possible only after the introduction of effective tax legislation.

Read alsoUkraine's central bank to update 2017 inflation forecast late in OctToday, a number of NBU restrictions are still being applied to citizens and businesses, including the compulsory sale of 50% of currency proceeds, the preliminary lodgment in hryvnia for the purchase of foreign currency at the request of customers, the restriction on the purchase of cash currency by individuals in the equivalent of UAH 150,000 per day.