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Ressource: NBU was approved  Resolution No 160, dated March 3, 2015 On Resolving the Situation in the Monetary and Foreign Exchange Markets of Ukraine.

The provisions of Resolution No 160 retain the requirement for the mandatory sale of 75% of proceeds in foreign currency and the 90-day rule for settlements for export/import of goods.

Resolution bans banks from purchasing foreign exchange at the instruction of a resident client (except for individuals!) with fx holdings on current and deposit accounts with banks, if the total fx amount held in client's accounts with the banks exceeds USD 10.000 (in equivalent at the official rates of corresponding currencies on the day of the fx purchase application).

In order to prevent corrupt practices pertaining to the execution of foreign exchange operations by banks, the list of documents justifying foreign exchange purchase transactions and the transfer of foreign exchange outside Ukraine to be submitted for import operations has been expanded to include a reference from the State Fiscal Service of Ukraine certifying that the client has no outstanding debts on taxes, levies and payments.

Resolution has imposed restrictions on bank operations to sell banking metals for non-cash hryvnia to economic entities/companies, if the total weight per one calendar week per banking institution per client exceeds 3.216 gold troy ounce (an equivalent in other banking metals calculated at the cross rate according to official investment metals rates set by the National Bank of Ukraine).

All other restrictions on the purchase of foreign currency, transferring foreign currency abroad and others restriction which were introduced before - are extended until June 3, 2015.

Also was added the limitation for individuals to purchase precious metals – during one working day in one banking institution one individual person may buy precious metals in the amount of not more than 3000 UAH!

The decision comes into force from March 4, 2015 and is valid until June 3, 2015, inclusive.