The National Bank has changed the rules for buying foreign currency in Ukraine

The National Bank of Ukraine has amended the rules for purchasing foreign currency in Ukraine. 

The National Bank of Ukraine (NBU) has decided to ease restrictions on non-cash foreign currency transactions. Here’s what you need to know about these changes.

This initiative of the NBU is part of the strategy of easing currency restrictions aimed at increasing exchange rate flexibility and restoring inflation targeting. The main purpose of this step is to minimize the risk caused by the diversity of exchange rates in foreign exchange transactions in Ukraine.

The new NBU decision allows Ukrainian banks to sell non-cash foreign currency without the need to confirm the grounds or obligations for such transactions. Foreign currency transactions may be conducted at the official bank rate. The maximum limit for such transactions in one bank is UAH 50 thousand per month (in equivalent).

The second change is an increase in the monthly limit for the purchase of non-cash foreign currency by individuals to UAH 200 thousand in equivalent, with further placement of funds on deposit for 3 months or more.

These changes introduced by the NBU became effective on August 29, 2023.

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