The removal of currency restrictions: what this says about Alyona Degrik

Снятие валютных ограничений: что по этому поводу говорит Алена Дегрик

Currently, in order to provide competitive advantages, quite often the government creates an artificial situation that reduce the national rate, using various methods of regulating currency. In 2018 in Ukraine was adopted the law “On currency” that will, to some extent alleviate the situation where people have to make various deals with currency. The act introduces the following changes:

  • “Bezviz” for capital;
  • the abolition of the restrictions. First of all it is connected with the control of foreign exchange transactions;
  • foreign exchange investing;
  • the law will increase the maximum period for the settlement of transactions related to export and import;
  • it will be possible to relax some sanctions on violations of currency regulation;
  • no need to register with the National Bank of Ukraine of loans attracted from abroad.

Any national monetary policy is primarily based on currency regulation, which is a statutory system that ensures the correct order of foreign exchange transactions. This was stressed by Alyona Degrik.

To date, the main variety of foreign exchange transactions in any state is considered a special regulation of the state acts and regulations. Not fall under the control of agencies of the translations that are carried out by special state conventions. Today, the regulation of currency in the country becomes a special form of constraints that represent certain conditions and clearly defined transaction boundaries. These measures are primarily needed to ensure maximum protection of the national currency. Currency restrictions apply not only to the disposal of currency values, but also specific areas of their application. Therefore the question of lifting such restrictions today is quite acute. One of the most important moments of this process, according to Alyona Degrik Shevtsova, Director of FC “Leogang Drink” is the ability to increase the limits on various actions. For example, the removal of restrictions on opening of accounts for individuals abroad.

Most often, currency restrictions introduced for the solution of different questions: from the possibility of settlement of the balance of payments to maintain exchange rate stability.