The National Bank continues FX liberalization
Tax & Legal Alert
5 April 2017
The National Bank of Ukraine moves ahead with gradual easing of temporary FX restrictions
The respective measures to ease restrictions are approved by NBU Board Resolution No. 30 of 4 April 2017 On Amendments to NBU Board Resolution No. 410 of 13 December 2016. The amendments shall take effect from 5 April 2017.
The stated amendments provide for the following:
- firstly, the requirement for mandatory sale proceeds in Ukraine in foreign currency is softened. Now legal entities will have to sell not 65%, but 50% of their currency earnings;
- secondly, significantly softened the restrictions, imposed on selling of foreign currency to the population. Starting from the 5th of April 2017 the maximum amount of foreign currency sale per 1 client per day is increased to UAH 150 000 (if exceeds – then shall be subject to obligatory financial monitoring). Previous restrictions were limited to the foreign currency equivalent of UAH 12 000 per 1 client per day.