No decisions on banning forex exchange - NBU

No decisions on banning forex exchange - NBU

The National Bank of Ukraine says it has not adopted any regulations prohibiting exchange transactions involving foreign currency, in particular U.S. dollars issued in 1996 and earlier.

The NBU emphasized this on Facebook, Ukrinform reports.

After analyzing public appeals regarding cash foreign currency exchange, the National Bank identified two key issues. They apply to the exchange of foreign banknotes with signs significant wear or damage, as well as older banknotes.

"For each case, there are clear requirements of currency legislation and NBU regulatory legal acts which the regulator requires that authorized institutions licensed to carry out currency exchange transactions comply with," central bank emphasized.

Read also: Ukraine's international reserves reach $37.3B — NBU

The clear list of signs of wear or damage to the banknote, which may lead to a client being offered a collection operation, is posted on the NBU website.

The regulator assured that next week, a meeting with representatives of authorized forex exchange institutions to discuss public appeals and problematic issues with market participants, and provide relevant clarifications.

Read also: NBU sells $469M on interbank market in past week

As reported earlier, recently banks and exchange offices in Ukraine have been refusing to accept bills with minor wear, inscriptions and seals. Previously, transactions involving such banknotes went unhindered. Such banknotes are now offered for exchange at a 10-15% discount.

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