www.investbank.com.ua/page/en/icmu/icmu.html, 2015-03-14 19:29:31

Services in the Ukrainian Interbank Foreign Exchange Market

The PJSC CB Investbank purchases and sells foreign currency in the Ukrainian Interbank Foreign Exchange Market (UIFEN). In addition to this, our Bank always works on searching for the individual and most suitable rate for each client in the market. The UAH equivalent of foreign currency sale, as well as the foreign currency purchased in the UIFEN, is credited to the client’s account on the date of transaction.

Pursuant to the Resolutions adopted by the Management Board of the NBU dated November 16, 2012 No. 475 On Changing the Terms for Goods Export and Import Operations and Introduction of Obligatory Sale of Proceeds in Foreign Currency and No. 479 On Establishing the Amount of Obligatory Sale of Proceeds in Foreign Currency for the period between November 19, 2012 and May 17, 2013 (for six months), the requirement regarding the obligatory sale of 50 percent of the residents’ proceeds in foreign currency received as a result of goods sale under foreign economic agreements in the Interbank Foreign Exchange Market was introduced.

This requirement applies to the proceeds in foreign currency of Group 1 of the Classifier of Foreign Currencies and Banking Metals and in Russian rubles.

The sale is carried out by the Bank without any orders from the clients not later than on the following business day after the date of crediting these proceeds to the clearing account.

The foreign currency purchase transactions are carried out by the Bank when there is a certain basis for these transactions:

• current commercial operations of the clients with non-residents (import of goods and services, including without bringing these goods and services into the territory of Ukraine);
• non-commercial operations of the clients (business trip expenses, operational costs, pay-out of salaries to the employees who are non-residents, transfer of insurance benefits, payments made to the court, arbitration, notary, law enforcement authorities of foreign countries, admission and membership fees to international organizations, etc.);
• payment for the transactions related to capital flow (repayment of a loan and/or interest from a non-resident, leasing/factoring transactions, forfeits, return on investment, dividend, etc.);
• payment for the transactions in accordance with the individual license issued by the National Bank of Ukraine.

Purchasing foreign currency requires submission of the corresponding documents (depending on the basis): foreign economic agreements, certificates, invoices, statements of costs, credit agreements concluded with non-residents, documents confirming investment in Ukraine, etc.

The foreign currency purchased shall be used within 10 (ten) business days for the purposes indicated in the Purchase Application. In case of violation of the specified term, the Bank shall sell the foreign currency purchased by the client at its own discretion.

Templates of documents for the transactions of foreign currency purchase and sale: