NBU simplifies forex trading for banks, IFIs

The regulator refers to Resolution No. 143, effective as of January 2, 2018.

The NBU noted that the innovations would simplify the procedure for banks to conduct arbitrage transactions, that is the purchase/sale of foreign currency for another foreign currency without using the hryvnia.

In addition, IFIs will be able to buy or sell currency in any Ukrainian bank of choice, not only in the institution where they have accounts opened.

The central bank also facilitates the purchase of foreign currency to perform loan obligations and register client transactions in the interbank currency market.

Read alsoUkraine's solvent banks see over $65 mln in net profit in 11 monthsAs UNIAN reported earlier, the regulator announced further easing of administrative restrictions on the currency market, established in 2014-2015 to stabilize the exchange rate of the national currency, with the proviso that full currency liberalization is possible after the entry into force of a new law on currency and the introduction of effective tax legislation in Ukraine.

Today, a number of NBU restrictions are still being applied to citizens and businesses, including the compulsory sale of 50% of currency proceeds, the advance transfer of hryvnias to buy foreign currency at the request of customers, and limitation on the purchase of cash currency by individuals in the equivalent of UAH 150,000, or $5,367 at the current forex rate, per day.