NBU wants to extend the mandatory sale of 75% of foreign exchange earnings – source

The National Bank of Ukraine intends to extend the rule on mandatory sale of foreign exchange earnings by exporters, which now is set at 75% to March 3 inclusive.

This was told the "UNIAN" by sources in the financial market.

According to a top manager of one of the largest banks, the rule of compulsory sale of foreign currency earnings by exporters will definitely be continued because there is no reason for its termination, given the lack of foreign currency in the market.

A representative of another large bank also believes that the rule of compulsory sale of foreign currency earnings will remain.

"Today, at 10:00, there will be the meeting, where the decision will be made. The rule will be extended, there is no information on change of the earnings share to be sold. There is also evidence that they want to fix this rule in the law to make it applicable on a regular basis and not as a temporary measure of the NBU", – another source said.

The National Bank fo far neither confirmed nor denied the information about extension of compulsory sale of foreign exchange earnings by exporters.

"The relevant resolution is still under development. Once it is signed, we will make it public", – the press service of the regulator said.

Recall that by the Resolution №591 of September 22, 2014, the NBU set the rule for compulsory sale of foreign exchange earnings in foreign economic activity at 75% and limited terms of payments for foreign economic contracts to 90 days.

Subsequently, the regulator extended the rules by 3 months to March 2.