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NBU relaxed restrictions for entrepreneurs on the purchase of foreign currency on the interbank market

From July 20, legal entities and individual entrepreneurs will be able to buy up to 100 thousand euros per day without grounds and obligations and without submitting supporting documents to the bank.

This was reported on the website  of the National Bank.

As the head of the Supervisory Board of ConcordBank Olena Sosiedka noted, this decision of the NBU in the short term will affect the stability of the hryvnia exchange rate. 

At the same time, Sosiedka noted, quotations are quickly stabilizing: foreign currency exporters have enough funds to satisfy the demand of Ukrainian consumers even with a short-term growth in demand. 

“There is also a positive side. Cancellation of restrictions means that the financial market has stabilized and is behaving predictably at the moment. It will also add optimism to investors, both local and foreign. In addition, by this decision, the NBU will significantly increase the liquidity of the interbank foreign exchange market. And the more operations there are on it, the more difficult it will be for individual players to influence it“, – summed up the head of the Supervisory Board of ConcordBank. 

As a reminder, earlier the new digital bank NEOBANK for everyone announced the start of work and readiness to accept new users online. Neobank is presented in the format of a mobile application, and also has a convenient web version. The new application was developed by the open fintech ecosystem Concord Fintech Solutions.

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