On July 1, the NBU changed a number of rules for exchange offices to improve the situation with dollar exchange. Now they will be able to withdraw money from bank cash desks without restrictions to replenish their own cash desks.
This is stated in the NBU’s announcement. “This will help to expand the supply of foreign currency that does not show signs of significant wear or damage in the cash foreign exchange market, where individuals can buy and sell foreign currency,” the NBU said.
To ensure that the authorization is used exclusively to ensure a stable situation in the foreign exchange market, the NBU has set conditions that non-bank financial institutions must meet.
The amount of cash withdrawn in hryvnia or foreign currency by a non-bank financial institution should not exceed the amount of funds in hryvnia or foreign currency previously credited to their account with the bank, in particular:
- a non-bank financial institution may transfer to a hryvnia account funds received through currency exchange transactions and from the sale of non-cash foreign currency;
- to a foreign currency account – funds received from foreign exchange transactions and as compensation for foreign currency banknotes accepted for collection.
What banknotes may not be accepted?
Those banks and exchange offices that do not accept currency for collection (i.e., do not send it for exchange to a foreign correspondent bank for a fee) may not accept heavily worn banknotes. Otherwise, they have to accept heavily worn banknotes and send them for collection. The amount of the commission should be indicated in such a way that all clients can see the information.
Currency is considered to be significantly worn out:
- that is torn or cut into several pieces;
- some digits and denomination in the text have been removed, the portrait image has been damaged, and optical elements are not visible;
- the color of the paper has changed; stains and dirt cover more than half of the bill;
- burnt, scorched, old;
- have obvious typographical flaws.
