The 90-day deadline for currency return and its mandatory sale extended by the NBU for another 6 months NBU

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The 90-day deadline for currency return and its mandatory sale extended by the NBU for another 6 months NBU

The National Bank of Ukraine made a decision to introduce and continue to enforce requirements regarding the deadlines for currency return and its mandatory sale, adopting Resolution No. 453 dated 14.11.2013, which came into effect on 20.11.2013).

Зміст статті:

The National Bank of Ukraine made a decision to introduce and continue to enforce requirements regarding the deadlines for currency return and its mandatory sale, adopting Resolution No. 453 dated 14.11.2013, which came into effect on 20.11.2013).

Accordingly, settlements arising from foreign economic operations related to the export and import of goods must be made within a period not exceeding 90 calendar days.

Receipts in foreign currency from abroad in favor of legal entities, foreign representative offices, individual entrepreneurs (FOP), into accounts opened for conducting joint activities, as well as into accounts of residents (opened outside Ukraine) are subject to mandatory sale on the Ukrainian interbank foreign exchange market.

 This requirement does not apply to foreign currency received under state guarantees, in favor of the state, as an erroneous transfer, under international technical assistance projects, on the basis of Ukraine’s international agreements, from international financial organizations of which Ukraine is a member) etc.

The mandatory sale of the specified receipts is carried out by the authorized bank in the manner established by the NBU without the client’s instruction, and no later than the next business day after they are credited to the distribution account.

The amount of foreign currency receipts from abroad for individuals that is subject to mandatory sale is 150000 per month (or exceeds it).

These rules apply to foreign currencies of Group 1 of the Classifier and to Russian rubles.

The authorized bank preliminarily credits these funds to a separate analytical account of balance account 2909 “Other accounts payable for operations with the bank’s clients”.

The hryvnia equivalent is credited by the authorized bank to the recipient’s account no later than the next business day from the day of the sale.