NBU implements a temporary ban on purchase of foreign currency

PwC, Kyiv, Ukraine, 
Thu, Feb 26, 2015

The NBU has temporarily prohibitedbanks from purchasing foreign currency on behalf of their customers until 27February 2015*. This is applicable for individuals as well as legal entities.

After 27 February, purchase of foreign currency may beperformed no earlier than on the fourth operational day, following thecrediting of UAH to the analytical account of the bank. 

The Resolution also introduced aban on purchase of hard currency at the expense of UAH loan funds (exceptpurchase by individuals in order to repay a debt under retail hard currencyloans).

We will continue to monitor developments on this issue and keep you updated onthe issue.

*NBUResolution No. 130 dated 24 February 2015 effective 25 February 2015  

Contacts:

Ron Barden,Partner & TLS Leader, ron.j.barden@ua.pwc.com
Andrey Pronchenko, Legal Director, Tax and Legal Services, andrey.pronchenko@ua.pwc.com
Alexey Katasonov,Senior Attorney, Tax and Legal Services, alexey.katasonov@ua.pwc.com
75 Zhylyanska Street| Kyiv | Tel:  +380 44 354 0404 | Fax: +380 44 354 07 90 | pwc.ukraine@ua.pwc.com  |  www.pwc.com/ua 

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