The NBU is significantly easing currency restrictions starting August 11, says Pyshnyi

This was reported by Andriy Pyshnyi, Governor of the National Bank of Ukraine.

Experts have determined that the new liberalization package does not pose any additional risks to the foreign exchange market. According to forecasts for international reserves, they are expected to grow to $70 billion by 2026.

Changes for the public:

• Under the new rules, the limit on the purchase of non-cash foreign currency will quadruple—from 50,000 UAH to 200,000 UAH per month. Within this limit, it will also be possible to purchase non-cash bank metals and securities issued by foreign issuers.
• The limit on cash withdrawals from foreign currency accounts in Ukraine and abroad is being doubled—to 200,000 UAH per day.
• The monthly limit for international payments from hryvnia accounts will increase from 100,000 UAH to 200,000 UAH. Within this limit, users will be allowed to pay rent and make account-to-account transfers (including SWIFT transfers).
• It will also be possible to make transfers from foreign currency accounts up to 200,000 UAH per month. The 500,000 UAH limit for paying for accommodation with a foreign currency card will be extended to cover rent payments as well.

Changes for banks:

• Gradually include, when calculating the foreign currency position, that portion of the reserves set aside for active operations which is currently not included in the calculation;
• return funds raised from non-residents as capital instruments to such non-residents if the NBU refuses to include them in the bank’s capital.

In addition, an “additional” limit on charitable contributions to military units of the Armed Forces of Ukraine and the National Guard will be introduced for businesses. Companies will be able to transfer their investment limits to other legal entities within the same business group.

As a reminder, for the first time in a year and a half, the NBU raised its discount rate from 15% to 15.5% per annum. This should allow inflation to return to a downward trajectory toward the 5% target as early as 2027.