Ukraine: new rules for conversion of FX proceeds

The National Bank of Ukraine (NBU) has introduced the compulsory exchange of 100 per cent of foreign currency proceeds.

The NBU has introduced more rigorous requirements for the mandatory conversion of foreign currency proceeds. Under NBU Resolution No. 515 dated 20 August 2014, local banks are now required to sell 100 per cent of foreign currency proceeds obtained by Ukrainian-resident businesses on their local and foreign bank accounts…

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