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With effect from 20 June 2019, the National Bank of Ukraine (NBU) cancels a requirement for mandatory conversion of proceeds denominated in foreign currency.
With effect from 20 June 2019, the National Bank of Ukraine
(NBU) cancels a requirement for mandatory conversion of proceeds
denominated in foreign currency. Previously 30% of proceeds
received by Ukrainian entities in foreign currency shall be
automatically converted into hryvna.
The amendments were introduced by NBU Regulation No. 78 "On
Amendments to Regulation on Protection Measures and Procedure for
the Conducting of Certain Transactions in Foreign Currency"
dated 18 June 2019.
According to the NBU these amendments are part of FX
liberalisation plan implementing by the NBU after February 2019
when the Law of Ukraine "On Currency and Foreign Currency
Transactions" became effective.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
