Klaus Kessler

Rechtsanwalt (Deutschland)
Phone: +49 89 928 780 702

Yuri Nikolaychuk

Rechtsanwalt (Ukraine), Dipl.-Jur., LL. M., Steuerberater
Associate Partner
Phone: +380 (44) 586 23 03

Changes in currency regulation

Resolution of the Board of the National Bank of Ukraine dated May 20, 2022 № 102 "On Amendments to the Resolution of the Board of the National Bank of Ukraine of February 24, 2022 № 18" introduced a number of changes to currency regulation (the Resolution becomes effective on May 21, 2022).

Starting from May 21, 2022, the National Bank of Ukraine lifted restrictions on setting the currency exchange rate at which banking and financial institutions can sell cash foreign currency to customers (previously, the deviation of the relevant exchange rate by more than 10% from the official rate was prohibited). In addition, there were lifted similar restrictions on the exchange rate at which banks debit customers' hryvnia accounts if customers pay with hryvnia cards abroad.

The National Bank of Ukraine also temporarily reduced the monthly limit on cash withdrawals from hryvnia accounts opened with Ukrainian banks from UAH 100,000 to UAH 50,000. At the same time, individuals will be able to withdraw abroad cash from foreign currency accounts opened in Ukrainian banks within the daily limit of UAH 100,000.

The National Bank also temporarily banned for the banks:

  • to transfer funds for provision of loans to non-residents (except for the financial institutions);
  • to provide loans to legal entities in national currency in order to repay loans in foreign currency;
  • to change the currency of performance of credit agreements concluded with legal entities (except for the banks) from foreign currency to hryvnia.
Rödl & Partner

Mykoly Pymonenka Street 13
Building 1B, office 31
04050 Kyiv

Phone: +380 (44) 586 23 03
Fax: +380 (44) 586 23 04
E-Mail: kiew‎@‎roedl.com
Website: www.roedl.net/ua