NBU Board Resolution No. 734, dated November 20, 2014  “On the regulation of the situation in the foreign currency market of Ukraine” (hereinafter – Resolution No. 734) reads that given the need to ensure an equilibrium in the foreign exchange market and prevent the use of the financial system for money laundering and terrorist financing, the National Bank of Ukraine has adopted a decision on the use of foreign exchange market regulatory instruments, in particular, the mandatory sale of foreign exchange proceeds and shortening of the settlement terms under export/import transactions.

Resolution No. 734 comes into effect on November 22, 2014, and remains in force until December 2, 2014.

The validity period of Resolution No. 734 has been aligned with that of other temporary measures in place in the money market, which were introduced by Resolution of the National Bank of Ukraine Board No. 540, dated August 29, 2014 “On the introduction of additional mechanisms to stabilize the money and foreign exchange markets of Ukraine”.