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 Ukrainian Politics, Economics
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 National Bank Threatens Illegal Currency Changers with Criminal Responsibility

The National Bank expects growth of stability in the cash foreign exchange market if a bill that will provide criminal responsibility for selling cash currency in the black market.

Head of the committee for the prevention of unscrupulous currency transactions Yuriy Horshkov noted that "it would no longer be an administrative offense but it will be considered tax evasion. If we are talking about very large sums it will be a criminal offense," he said.

The Parliament of Ukraine registered a bill to impose a 15% pension fund commission on the currency sales by individuals.

The experts unanimously predict that this legislation's entry into force will lead to the revitalization of the black foreign exchange market.

According to the head of the NBU's Committee for the prevention of unscrupulous currency transactions, this move will reduce volatility because it excludes speculative factor in the cash currency market.

"The situation with the dollar has been artificially agitated. There are some people who want to make super profits on this," he added.

Horshkov also noted that it was the speculators who have involved the entire population in the currency pyramid. However, he blamed the mass media for helping to elevate panic by publishing pessimistic forecasts of the exchange rate dynamics.


 
 
 
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