The NBU abolished currency restrictions for credit funds

FLIFI members welcome the adoption of Resolution of the Board of the National Bank of Ukraine (NBU) #104 dated August 6, 2019 amending the regulation of foreign currency transactions that comes into force on August 8, 2019. The Regulation #104 allows businesses to use credit funds to buy foreign currency without limitations. This will help businesses to manage their liquidity more efficiently and buy necessary amounts of currency to fulfill their obligations at a convenient time.

Currency supervision on compliance over of the deadlines for businesses’ settlements on foreign economic transactions has also been improved. Banks are obliged to complete the supervision on export operations within 5 working days since receiving information from the NBU regarding the change of the servicing bank in the customer’s customs declaration. This will avoid double-checking the client transaction.

We would like to thank the National Bank of Ukraine for introducing these important for the business community amendments.