Ukrainians will be able to exchange currency at post offices - NBU

Ukrainians will be able to exchange currency at post offices - NBU

The population of Ukraine will be able to buy and sell foreign currency not only in banks and currency exchange offices of non-bank financial institutions but also at post offices, the National Bank of Ukraine (NBU) has reported.

According to the report, such an opportunity is given as part of the transition to a new liberal system of currency regulation stipulated by the law of Ukraine "On Currency and Currency Transactions."

The respective changes were approved by NBU Board resolution No. 9 of January 2, 2019 "On Approval of Amendments to Certain Legislative Acts of the National Bank of Ukraine" and come into force on February 7, 2019, with the enactment of the law "On Currency and Currency Transactions."

According to the resolution, postal operators will be able to obtain from the NBU a license for carrying out foreign exchange transactions if they have at least 50 branches located on the territory of at least 50% of Ukraine's regions, if they receive at least 50% of revenues from activities in the field of postal services and if they comply with the requirements for financial standing, ownership structure, business reputation (including their managers and owners of significant participation) and professional suitability of managers.

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