NBU may cancel the mandatory sale of currency. Or reduce it from 50% to 30%

The National Bank of Ukraine (NBU) may cancel the mandatory sale of foreign exchange earnings by Ukrainian companies and individual entrepreneurs, as reported by Ekonomichna Pravda, citing the words of NBU Deputy Chairman Oleh Churii.

“We have identified the priorities, and restrictions that we want to remove in the first place, namely, sales of foreign exchange earnings, T+1 (the requirement of funds pre-booking for the purchase of foreign currency – ed.), removing restrictions on the repatriation of dividends … I think that if we carry out the next wave of liberalization in the nearest future, we will remove or reduce all these restrictions,” he said.

The obligation to sell part of the currency earnings can be removed in the first place. “In regard to the abolition of compulsory sales, we will reduce it from 50% to, perhaps, 30%. However, it will depend on the macroeconomic situation. Perhaps, we will completely cancel this restriction once,” the official said.