RESTRICTIONS ON FOREIGN EXCHANGE TRANSACTIONS AS A MONETARY POLICY TOOL DEPLOYED BY THE NATIONAL BANK OF UKRAINE
The article explores special aspects of the use in Ukraine of administrative instruments of the foreign exchange policy in the form of restrictions on foreign exchange transactions and determines effectiveness of these measures at the present stage of economic development. Restrictions on foreign exchange transactions have been classified by segments of the foreign exchange market, areas of their application and types of foreign exchange transactions. The author has analyzed the preconditions for imposing administrative restrictions in the form of the mandatory sale of foreign exchange earnings in the foreign exchange market and shortening of the settlement terms under export/import transactions. The author has analyzed impact of these measures on the foreign exchange market of Ukraine and the state of the balance of payments.