NBU announced foreign exchange liberalization in two areas

НБУ анонсировал валютную либерализацию в двух сферах

НБУ анонсировал валютную либерализацию в двух сферах

The National Bank of Ukraine are preparing monetary easing and expect conditions for their implementation. Among them, the abolition of compulsory pre-reservation for currency purchases and restrictions on the repatriation of dividends. But for this the controller needs to see a positive macroeconomic trends like inflation and the foreign exchange market. This was told by Deputy head of the NBU Oleg Churiy,

“We have identified the priorities, what restrictions are going to remove in the first place: selling of foreign currency earnings T+1 (the requirement of prior earmarking of funds for purchase of foreign currency), the abolition of restrictions on the repatriation of dividends. This is our priority. I think that if we will pursue in the near future, another wave of liberalization, these restrictions, we will remove or reduce,” said CORI, reports FinClub.

First expected to abolish restrictions on the sale of revenues in foreign currency.

“The abolition of compulsory sale, we will reduce from 50% to perhaps 30%. But it will depend on the macroeconomic situation. Can we completely cancel one-time this restriction,” — said the Deputy head of the regulator.

Recently it became known that the Ukrainians will be able to buy and sell currency at the post offices, not only in banks and exchange bureaus non-Bank financial institutions.

In addition, Ukrainian banks have changed the reserve requirements of a currency. The national Bank of Ukraine has updated the rules to prevent systemic risks in the financial sector related inflows. The national Bank also said, due to which managed to reduce inflation to five-year low. The reduction of inflation indicates the reversal of the trend of inflation, which was observed in 2017, and the weakening of fundamental inflationary pressure on the Ukrainian economy.

Earlier it was reported that the NBU will radically change the monetary policy of the state. The regulator told the details.