The NBU canceled the restriction on the rate of sale of currencies

The regulator has removed restrictions on the establishment of the cash exchange rate and when paying by card abroad.

From May 21, the National Bank removed the restriction that institutions can sell currency to customers with a deviation from the official rate of not more than 10%. It was reported on the regulator’s website on Friday, May 20.

Similar restrictions on setting the exchange rate, according to which banks deduct hryvnia funds from clients ’accounts, are also canceled if clients use hryvnia cards abroad.

“The removal of restrictions on the establishment of rates at which banks sell foreign currency to the public will improve the working conditions of legal market participants. It will enhance competition, increase the liquidity of legal segment and reduce the volume of illegal transactions. All this will make the foreign exchange market more stable and help reduce the amplitude of changes in the exchange rate on its cash share, “said Deputy Head of the NBU Yuriy Gelety.

In addition, the NBU divided the monthly limit for withdrawing money abroad from hryvnia accounts opened in Ukrainian banks to UAH 50 thousand from UAH 100 thousand.

The changes do not apply to the use of overseas payment cards for settlements to pay for the cost of goods, work and services – most of which can continue to be carried out without restrictions.

Through its resolution, the NBU also banned banks from conducting operations that violate the restrictions imposed by the central bank or help prevent them.

Recall that after the start of the war, the NBU fixed the dollar exchange rate at the level of 29.25 hryvnia – this should work until the end of martial law.

But recently, the cash exchange rate of the dollar has risen to 37 hryvnia. The NBU explains exactly this by the existing restrictions.

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