Ukrainian business not obliged to sell foreign currency incomes from June 20

From June 20, the National Bank of Ukraine (NBU) abolishes the rate of compulsory sale of foreign currency incomes for exporters, currently obliging businesses to sell 30% of foreign currency earnings in the interbank foreign exchange market.

As reported on the NBU’s website, these measures will not have a negative impact on macro-financial stability, as in recent years, with the standard rate of mandatory sales at 50% and its reduction to 30%, the business as a whole sold over 90% of the currency.

The National Bank stressed that the abolition of mandatory sale is another step towards the free movement of capital as one of the strategic goals of the regulator.

As The Journalist reported, NBU predicts increasing of electricity rates by 25% from July.