The NBU has simplified business terms of sale currency

НБУ упростил бизнесу условия продажи валюты

National Bank has simplified the sale of foreign currency

The national Bank at its meeting on 25 January adopted a resolution, which have improved the conditions of sale of currency clients of banks on the interbank market.

The national Bank of Ukraine has improved the conditions of sale of foreign currency clients of banks on the interbank market. This was reported on the official website of the regulator.

The decision, which the NBU adopted January 25, determined the client’s right to petition for the sale of foreign currency at any authorised Bank at its own discretion (regardless of whether the current foreign currency account opened in this Bank).

In addition, the Bank said the timing of the sale of foreign currency customers. As before, the authorized Bank is obliged at the customer’s request to sell its own funds in foreign currency, not later than five working days starting from the date of cancellation of these funds from the current account of the customer opened in the Bank. At the same time, the NBU said: if the funds for the sale are transferred by the client from another authorized Bank selling of the currency is made within five days from the date of crediting such funds to the correspondent account of the authorized Bank.

“These steps currency liberalization developed taking into account proposals from business and market participants. As a result, the business will have more opportunities to select the optimal selling rate. Also these changes will create proper conditions for the development of economic competition in the interbank currency market”, – said the NBU.

Given this, the NBU notes that these steps will have a significant impact on the currency market.

We will remind, the national Bank of Ukraine sees no grounds for the application of stricter currency restrictions, such as those that were introduced in 2015, when the hryvnia has reached 30 UAH/USD.