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Changes in currency regulation

NBU Resolution No. 154 of July 21, 2022 introduced certain changes to exchange rate formation and transaction limits.

Main changes:

  • the official exchange rate of the hryvnia to the US dollar has been increased;
  • the withdrawal of cash currency from hryvnia cards abroad was changed from a monthly to a weekly limit, the total limit per month remained unchanged;
  • a monthly limit has been established for payments with hryvnia cards abroad.

The specified limits are calculated in total for all the client's accounts in the national currency. 

For convenience, the table provides information in the format of a comparison of changes by items that relate to the operations of legal entities and entrepreneurs.

Please note that the changes entered into force on July 21, 2022!

Before

Now

The official exchange rate of the hryvnia to the US dollar - UAH 29.25. for one US dollar

The official exchange rate of the hryvnia to the US dollar - UAH 36.57. for one US dollar

5-2. Prohibition of issuing cash funds outside of Ukraine:

1) from a client's bank account opened in Ukraine in the national currency, in an amount exceeding the equivalent of 50,000 hryvnias per calendar month

5-2. Prohibition of issuing cash funds outside of Ukraine:

1) from all accounts of the bank customer opened in the national currency, in the amount exceeding the equivalent of UAH 12,500 for each seven calendar days

14. Authorized institutions are prohibited from making cross-border transfers of currency valuables from Ukraine / transfer of funds to correspondent accounts of non-resident banks in hryvnia / foreign currency opened with resident banks, including transfers made on behalf of clients, except for cases of:

 

8) settlements (payment for goods, works and services) abroad using electronic means of payment (except for settlements performed using merchant category code 6211) or the use of electronic means of payment abroad to obtain cash;

 

 

14. Authorized institutions are prohibited from making cross-border transfers of currency valuables from Ukraine / transfer of funds to correspondent accounts of non-resident banks in hryvnia / foreign currency opened with resident banks, including transfers made on behalf of clients, except for cases of:

 

8) settlements (payment for goods, works and services) abroad using electronic means of payment (except for settlements performed using merchant category code 6211):

- in the amount of up to UAH 100,000 in equivalent per calendar month from all accounts of the bank customer opened in the national currency;

- without limitation of the amount from all accounts of the bank customer opened in foreign currency

 

For reference: merchant category code 6211 - securities (brokers/dealers)

For information, we provide links to the full texts of regulatory documents:

 

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