The National Bank of Ukraine (NBU) has launched a major package easing currency restrictions for businesses, the financial sector and the public, with changes taking effect on August 11. The NBU said the changes would not create risks for the currency market because the necessary conditions had already been established.
The monthly limit for individuals buying non-cash foreign currency rises from 50,000 to 200,000 hryvnias. The NBU said this eases life for Ukrainians abroad and expands opportunities for citizens living in Ukraine, with the sum also covering non-cash bank metals and securities from foreign issuers.
The daily limit for cash withdrawals from foreign currency accounts, both in Ukraine and abroad, rises from 100,000 to 200,000 hryvnias, a move the NBU said would support Ukrainian migrants and boost trust in Ukrainian banks. The monthly limit for paying for goods, works and services abroad from hryvnia accounts doubles to 200,000 hryvnias, covering housing rental payments made by card or by transfer, including via SWIFT. A new monthly limit of 200,000 hryvnias applies to transfers from a foreign currency account to a recipient abroad for goods, works and services. The existing 500,000 hryvnia monthly limit for paying for accommodation abroad by currency card now also covers housing rental, payable by card or transfer.
Changes for businesses
Companies can withdraw up to 200,000 hryvnias a day from hryvnia accounts in Ukraine, up from 100,000. The daily limit for cash withdrawals from foreign currency accounts also rises to 200,000 hryvnias. The monthly limit for hryvnia corporate cards abroad increases to 140,000 hryvnias, replacing the previous limit of 17,500 hryvnias a week. The limit for paying for goods, works and services abroad using hryvnia corporate cards rises from 150,000 to 400,000 hryvnias a month, while foreign currency corporate cards remain unlimited. The NBU is also introducing changes for receiving charitable contributions, allowing limits to be transferred between companies within a business group, and expanding opportunities for exporters.
