Accounting, Payroll, Tax & Legal since 1989

National Bank restrictions on currency operations

Although the National Bank of Ukraine has lifted some of the currency operation restrictions put in place for physical persons earlier in Spring, some still remain in effect. The current situation after changes in May is as follows. 

- There are no restrictions on the exchange rate at which authorized institutions such as banks may sell foreign currency to their customers in cash.

- Similarly there are no restrictions on the exchange rate at which banks debit funds from their customers´ Hryvnia card accounts in case they make payments abroad in other currencies.

Earlier the rates were set so that they could not deviate from the official exchange rate set by the NBU by more than 10 percent. Now, the exchange rates are regulated by market supply and demand.

For Ukrainians and others living abroad who are using Ukrainian bank cards denominated in Hryvnia, there are some restrictions in place. Funds equivalent up to 50,000 UAH can be withdrawn each month in cash in local currencies. This limit does not apply to payments made for goods and services, only to cash withdrawals.


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