Global Trade Alert

With Resolution No. 515 of 20 August 2014 the National Bank of Ukraine introduced a mandatory sale on the interbank currency market of 100% of the proceeds in foreign currency of residents, obtained from the sale of goods as part of international trade contracts. This rule is to enter into force on 21 August 2014 and is valid until 21 November 2014.
Previously, the mandatory foreign currency sale rule was set at 50% (see the attached related GTA report No. 11525).