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Another decision to stabilize the situation on monetary and foreign exchange market of Ukraine was made by National Bank of Ukraine.

On the 7th of June, 2016 the Board of the National Bank of Ukraine adopted a Regulation №342, which is going to be the next step in the gradual renewal of trust to the Ukrainian banking system.

First of all, changes relate to earnings in foreign currency received in favor of legal entities, individual entrepreneurs on their bank accounts from abroad. Now, these earnings are the subject to compulsory sale at a rate of 65% instead of 75%.

There were changes also in the maximum sum of foreign currency sale. From now there is possibility to sell 12 thousand UAH in equivalent. Previously this maximum was 6 thousand UAH.

Some other changes fall within foreign exchange transactions:

1.       The exchanged rate can be changed by banks and other financial institutions during the operational (working day).

2.       It is allowed to set up different exchanged rate in banks, financial institution and their separate units that are located in different places, so that they can better respond to the regional specificities of currency market.

Another important point was cutting down restrictions on the amount of cash withdrawal from bank accounts of clients. The Regulation states that clients are able to:

-          withdraw cash from bank accounts in foreign currency up to 100 thousand UAH per day, instead of 50 thousand UAH per day.

-          Withdraw cash from bank accounts in national currency without any restrictions. Previously there was restriction in the amount of 500 thousand UAH per day.

The Regulation comes into force from the 9th of June 2016 and is valid till the 14th of September 2016.

To read the full text of the Regulation, please follow the link: https://bank.gov.ua/ua/control/uk/publish/article?art_id=32236335