Policy Win: The National Bank of Ukraine Canceled the Mandatory Sale of Foreign Exchange Earnings

The American Chamber of Commerce in Ukraine welcomes the adoption of Resolution of the Board of the National Bank of Ukraine (NBU) #78 dated June 18, 2019 "On Amendments to the Regulations on Protection Measures and Determining the Procedure for the Implementation of Certain Transactions in Foreign Currency" that comes into force on June 20, 2019.

This NBU Resolution canceled the mandatory sale of 30% foreign exchange earnings, which is a one more step towards free movement of capital and easiness of doing business in Ukraine.

At the same time, a number of steps remain to be taken on the way to full liberalization of the currency market and the Chamber will take every single effort for achieving these steps and ensuring their effective implementation.