NBU regulated hryvnia's use in foreign economic activity

The National Bank of Ukraine has set regulations of hryvnia's use in foreign economic activity. According to the document, "a non-resident bank has a right to use its client's means through a corresponding UAH account in an authorized bank of Ukraine to purchase currency at the Ukrainian inter-bank market, providing the authorized bank of Ukraine with all necessary documents, confirming the UAH corresponding account of a non-resident is served to receive means for import in Ukraine (products, services, works)."

Among the confirming documents there are the original of an agreement on foreign economic activity, original certificate or any other original document, confirming the execution of works and/or services. The authorized bank is to carry out the purchase of foreign currency, but only if it has confirmed information about supplied goods or services. The information can be obtained from customs declarations.

The NBU resolution also stipulates that UAH payments between residents and non-residents for export/import of goods must be carried out through the authorized banks of Ukraine without personal licenses of NBU.