The National Bank of Ukraine tightens requirements for non-banking financial institutions and postal operators engaged in currency exchange. The relevant information is published on the official website of the NBU.

The reason for the tightening was the artificial overvaluation of the exchange rate in the cash segment of the foreign exchange market, which looks unreasonable against the background of a relative stabilization of supply and demand in the non-cash segment and may indicate exclusively speculative purposes of non-banking institutions.

“The National Bank believes that the loosening of the situation with the cash rate during the war in order to obtain an additional margin in the segment where the population buys the currency is unacceptable,” the NBU said in an official statement..

Further, the message indicates how and what kind of requirements for non-bank exchangers are being tightened.

Firstly, information on the established rates of purchase and sale of foreign currencies should be provided to the public in a standardized form in a clearly defined format - copies of the order (instruction) on the establishment of rates of purchase and sale of foreign currencies. This information will be placed exclusively at the cash desks of institutions and structural divisions. At the same time, non-banking financial institutions and postal operators are prohibited from informing about the established exchange rates for buying and selling foreign currencies outside the cash desks of institutions, drawing excessive attention to them..

Secondly, for exchangers renewed? the obligation to provide information to the relevant register on the premises where cash foreign exchange transactions are carried out.

Thirdly, in order to control the observance by non-banking financial institutions and postal operators of the procedure for conducting foreign exchange transactions and ensuring security during the period of martial law, the process of buying and selling currencies should be carried out with mandatory video surveillance.. In addition, a number of requirements are put forward for the premises where the purchase and sale of currency values \u200b\u200bis carried out.. In particular, in order to improve security, the NBU will revise the technical requirements for cash desks.

Fourthly, in order to strengthen control over compliance with the requirements for the purchase and sale of currencies, they should be carried out exclusively with the use of registrars of settlement transactions (RPO). Information about the used cash registers will be transferred to the National Bank. This will improve tax discipline..

As the NBU explains, non-banking institutions evade or practically do not pay income tax. Thus, the income tax paid by such companies is only 0.00185% of the volume of the currency they bought, or about 7 million. UAH. per year for the whole market. According to NBU estimates, in the first half of 2022, the average amount of income tax paid by one unit of the relevant non-banking institutions amounted to UAH 165 per month.

These changes do not apply to banks, since to date they have practically not recorded abuses in the field of trading in currency values \u200b\u200bin cash. However, if such abuses are detected, similar regulation will be introduced for banks, the NBU warns..

The above and other changes are contained in the Resolution of the Board of the National Bank of Ukraine dated July 29, 2022. No. 165 "

To date, the hryvnia to the cash dollar fluctuates with a small amplitude around the ratio of 1:40. Official NBU rate: 1:36.5686.