The Central Bank may abolish compulsory currency earnings

НБУ может отменить обязательную валютную выручку

The national Bank of Ukraine is waiting for the conditions for cancellation of obligatory sale of currency and removal of other restrictions.

This was stated by the Deputy head of the NBU Oleg Churiy, according to FinClub.

“We have identified the priorities, what restrictions are going to remove in the first place: selling of foreign currency earnings T+1 (the requirement of prior earmarking of funds for purchase of foreign currency – EP), the abolition of restrictions on the repatriation of dividends. This is our priority. I think that if we will pursue in the near future, another wave of liberalization, these restrictions, we will remove or reduce”, – told Cure.

First can remove the restrictions on the sale of foreign currency earnings. “The abolition of compulsory sale, we will reduce from 50% to perhaps 30%. But it will depend on the macroeconomic situation. Can we completely cancel one-time this restriction,” – said the Deputy head of the national Bank.

To this end, the NBU should see positive macroeconomic trends in inflation and the foreign exchange market. “The business says they appreciate the very positive dynamics. They understand that it is not the restrictions that will be permanent. We from mid-2015 all our steps are directed on removal of restrictions. No new restrictions, we have not yet entered and are not going to do it,” said Curi.

We will remind, the national Bank reports that inflation by the end of 2018 was below the forecast of the regulator.