Currency Exchange Booths Increase 70% in Ukraine
- New Europe Investor
- January 14, 2016
According to the National Bank of Ukraine (NBU), the number of currency exchange booths in Ukraine has increased 70% during the course of 2015.
In a posting on their website, they said the country now has 1,988 foreign exchange currency booths.
According to the regulator, outside of banks, 17 financial institutions hold a licence to conduct foreign exchange transactions. In addition, nine institutions are currently awaiting approval for applications entered at the end of 2015.
There has been a tightening of regulations on non-financial institutions conducting foreign exchange transactions. They include; the booths must have cash registers, they must post the rates they are giving online, and finally, higher capital requirements have been imposed depending on the number of booths owned by a licence holder.