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Thursday, November 21, 2019

National Bank of Ukraine removes restrictions on foreign-currency transactions, investment metals

The National Bank of Ukraine (NBU) has relaxed rules regarding foreign-currency trade and investments in metals.

Simplified rules will allow banks to perform their own foreign currency transactions, according to a press release on the bank's website. Companies will also be able to perform such transactions without limitations.

The NBU has widened the spectrum of bank transactions involving investment metals, as well. Banks can perform transactions between one another to buy or sell investment metals under a variety of new terms. Until now, such trade was limited.

The NBU has also removed restrictions on cashless foreign exchange transactions involving individuals who are not entrepreneurs, allowing an unlimited number of transactions daily, according to the release. Until now, such transactions were limited to one per day.

The amendments to these banking regulations were approved recently and will take effect June 26.

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National Bank of Ukraine

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