The national Bank of Ukraine (NBU) tomorrow, July 29, will increase the limits of payments for export-import contracts from 90 to 120 days. This was announced today by representatives of the NBU, correspondent ЛІГА.net.

The regulator will also increase by half ($1 million), the settlement amount above which payments under import contracts can only be carried out with the use of letters of credit.

The Board of the National Bank of Ukraine decided from tomorrow to reduce the discount rate by 1 percentage point to 15.5% per annum from 16.5%.

In addition, the regulator changed its forecast on foreign currency reserves this year and next year. By the end of this year, the NBU expects growth reserves, up to 17.2 billion instead of $18.7 billion, as previously forecast. The forecast for next year on the contrary, improved to $23.5 billion instead of $22.6 billion

The Chairman of the NBU Valery Gontareva said that starting in 2016, the net purchase of foreign currency by banks from citizens totaled $1.6 billion, the Volume of cash currency outside banks in June fell by $547 million, and the total for the six months by $2.5 billion.

Since the beginning of year the regulator has spent 71 foreign exchange auction, as well as one currency intervention at a fixed rate, said Gontareva. Net purchase of foreign currency by the Central Bank amounted to $1.4 billion “the Volume of foreign currency purchased for the repatriation of dividends, amounted to about $100 million,” she added.

NBU has decided to continue the liberalization of the foreign exchange 29.07.2016

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