An important prohibition with respect to currency cancelled: what will change for Ukrainians

Важный запрет относительно валюты отменен: что изменится для украинцев

The national Bank abolished the restriction on the repatriation of dividends from Ukraine

About it reports a press-service of the NBU.

According to the resolution, 10 July 2019 business with foreign capital is no longer restricted to a limit on the transfer of dividends abroad or on the accounts of non-residents in Ukraine in the amount of 12 million euros per month for a single legal entity.

Важный запрет относительно валюты отменен: что изменится для украинцев

The NBU noted that monetary easing would have negative consequences for macro-financial stability. In the first half of the business transferred abroad dividends in the amount of 1.27 billion, of which $ 1.07 billion dollars — at the expense of the purchased currency. The volume of such transfers and purchases of currency by 20% and 14% less than in the same period last year.

“Repatriation of dividends as a whole have no significant impact on the market, because the purchase of foreign currency for this purpose is about 4% of the total demand of Bank clients for foreign currency”, — said the press service of the NBU.

We will remind, the new law “On currency and currency operations”, which replaced the decree of the Cabinet of Ministers of 1993 on currency control came into force on 7 February 2019. A new system of currency regulation approved by the resolutions of the National Bank, provides a number of relief measures in the foreign exchange market. In General, 7 Feb introduced about 30 exemptions.

Earlier it became known that the NBU ceased to require compulsory sale of the dollar at the Ukrainian business.

On June 20, the Ukrainian market suffered a historic event. NBU abolished the mandatory sale of foreign currency for business in the form of a 30%. Such requirements have acted since independence until 2005. But then again, introduced in 2012, and they acted up to the current time in different volumes.

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Важный запрет относительно валюты отменен: что изменится для украинцев

Since 2012, the foreign exchange business was to be sold on the interbank market 50% of revenue, and since March of current year — 30% of revenues. These limitations did not in any way affect the conduct of business, as he sold more than 90% of the currency on their own.

This provision ceased to operate on June 20. All the money that got the business for 19 June, will not be so regulated. Merchants can now sell part of their revenue.

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