NBU head allows cancellation of mandatory sale of forex revenues this year
Acting Governor of the National Bank of Ukraine (NBU) Yakiv Smolii admits the cancellation of mandatory sale of foreign exchange earnings in the current year.
"We plan to cancel this norm, as this is a limiting factor for exporters. Our task is to cancel mandatory sale of foreign currency earnings. I think we will achieve this this year," Smolii said at a meeting with the parliamentary faction of Oleh Liashko's Radical Party.
According to the law, the National Bank can introduce the requirement of mandatory sale of foreign currency earnings for six months. In mid-June 2017, the NBU lowered the norm of such obligatory sales from 65% to 50%, and then extended it from December 14, 2017 to June 13, 2018 inclusive.
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