OREANDA-NEWS. November 20, 2009. On 19 November, the President of Ukraine signed the law, which obligates exporters to return their foreign currency revenue to Ukraine within a 90-day term. The law was passed by the Verkhovna Rada in October 2009, although it did not come into affect until the President has affixed his signature. Previously, exporters were to repatriate foreign currency revenues in 180 days.

Millennium Capital sees the news to be mixed. On the one hand, these changes will hit exporters, restricting them in the terms of foreign contracts. On the other hand, this may increase the foreign currency supply, thus underpinning the national currency. Still, the law will not have a tangible impact until February 2010, when one may expect the hryvnia to gain weight.