Given the current state of the domestic economy and the importance of preserving positive trends in the foreign exchange market, the National Bank of Ukraine has adopted a decision to extend a set of administrative measures regulating the foreign exchange market for 3 months. To this end, the National Bank of Ukraine Board has adopted  Resolution No. 758, dated December 1, 2014 "On regulating the situation in the money and foreign exchange markets of Ukraine" (hereinafter– Resolution No. 758).

Pursuant to Resolution No. 758, the requirement for the mandatory sale of 75% of foreign currency proceeds and the execution of payments under export and import transactions within 90 days shall remain in place.

In addition, with a view to harmonizing the money market, new efficient instruments to regulate the market have been offered:

in order to create conditions conducive to the inflow of funds into the banking sector, banks are offered an opportunity to issue registered savings certificates of deposit denominated in the domestic and foreign currency with a maturity of not less than six months and the redemption without any restrictions on the amount when certificates of deposit fall due (the maturity date indicated on the certificate);

with the aim of developing cooperation with international and foreign financial institutions,  resident warrantors that have been granted an individual license by the National Bank of Ukraine are authorized to remit foreign exchange to meet guaranteed obligations under loans provided by international financial institutions or foreign export credit agencies;

given the importance of charities during the conduct of anti-terrorist operation on the territory of Ukraine, the National Bank of Ukraine has adopted a decision that foreign exchange receipts treated  as charitable donations are exempt from mandatory sale.

Resolution No. 758 comes into effect from December 3, 2014, and will remain in force until March 3, 2015, inclusive.