The National Bank of Ukraine (NBU) has relaxed the rules for importing cash foreign currency by residents to Ukraine.

The NBU said on the website that at present, individual Ukrainians can bring cash to the country in the amount of more than EUR 10,000 in equivalent, if the money are declared in the full amount, and if there are documents confirming the withdrawal of cash from accounts in financial institutions and a receipt for the implementation of a currency exchange transaction with that cash for an amount exceeding EUR 10,000 in equivalent.

According to resolution of the NBU Board No.127 dated December 12, 2017 amending the instruction on the movement of cash and bank metals across the customs border of Ukraine, which came into force on December 14, later Ukrainians will be able to import this sum without supporting documents, only mentioning the sum in their declarations.

At the same time, the NBU said that the export of cash by resident individuals to the amount of more than EUR10,000 in equivalent is carried out with documents confirming the withdrawal of cash from their own accounts in banks and receipts for the implementation of a currency exchange transaction with this cash, in the event of such an operation took place, for an amount exceeding the equivalent of EUR 10,000.