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The NBU changed currency restrictions for business

Photo: NBU

The NBU, among other things, prohibits the use of foreign currency loans to purchase securities denominated in foreign currency.

The National Bank of Ukraine has made changes to the current monetary restrictions for businesses, canceling the previous ones and introducing new ones. The innovations will be effective from November 20, 2024. This was reported by the NBU press service.

On the one hand, the NBU eases some restrictions to support international cooperation in the field of foreign trade, as well as international projects and technical assistance programs. On the other hand, it is taking steps to strengthen the discipline of compliance with monetary restrictions.

Now Ukrainian enterprises will have the opportunity to pay for the import of goods without limiting the period of their delivery to Ukraine, provided that the funds are transferred in favor of a foreign export credit agency (ECA) / foreign state.

Currently, it is possible to transfer foreign currency from Ukraine for settlements under EU-funded international technical assistance/border cooperation projects/programmes. At the same time, residents of Ukraine receive technical assistance not only from EU countries, but also from other countries for projects financed by foreign donors.

The National Bank provides the opportunity to transfer foreign currency abroad for the payment of international technical assistance projects, regardless of the state or organization that finances such a project.

As reported, the NBU closely monitors compliance with the established monetary restrictions. Based on the results of checks confirming attempts to avoid the monthly limit on the return of dividends, the National Bank established additional criteria for such operations.

To reduce the risks of circumventing the current currency restrictions, the NBU also, from November 20, 2024, establishes a ban on using foreign currency loans to purchase securities denominated in foreign currency.

We remind you that the National Bank of Ukraine (NBU) for the third time in a row left the discount rate at 13% per annum.

The net income of Ukrainian banks increased to 118 billion gramsn
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Source: korrespondent

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