NBU Amended The Currency Legislation

Continuation of the currency market liberalization

Within the framework of its gradual liberalization policy the National Bank of Ukraine ("NBU") introduced certain changes to the applicable currency legislation. The relevant changes were approved by NBU Resolutions No. 372 dated 18 August 2016 and No. 375 dated 23 August 2016, which came into force on 18 August and 01 September 2016, respectively.

• The requirement for Ukrainian importers to obtain statements on the expert assessment of market prices statements from the State Information and Analysis Center for Monitoring of External Commodity Markets (SE Derzhzovnishinform) was cancelled. Such statements were neccessary to pay for services (works and intellectual property rights) purchased from a non-resident entity in an amount over EUR 50,000.