Page 44 - UKRRptJun19

Churiy added that the NBU’s recent FX market deregulation hasn't resulted in increased capital outflow, dividend repatriation or pressure on the exchange rate. Instead, the eased restrictions facilitated business operations.
Evgeniya Akhtyrko at Kyiv-based brokerage Concorde Capital believes that this is the latest step by the central bank in its FX liberalisation campaign.
"It reflects the NBU’s increasing confidence in the situation on Ukraine’s ForEx and the market's ability to regulate itself," she added in a no6e on May 8. "This measure should add some points to the country’s Doing Business rankings."
In February, the NBU decided to deregulate several foreign currency exchange FX operations. Starting Mar. 1, the compulsory sale of foreign currency receipts by Ukrainian exporters will be reduced to 30% from 50%.
The NBU also simplified the process of foreign currency purchases, freeing clients from the requirement of having to reserve cash one day prior to the purchase. In addition, the central bank has allowed repatriation of 2018 dividends, keeping the limit at $7mn per month per dividend-paying company.
44 UKRAINE Country Report June 2019 www.intellinews.com