Banks' FX position limit to rise 10% monthly starting Sept 1
Starting September 1, the National Bank of Ukraine will allow banks, when calculating their foreign-exchange position, to gradually (by 10% per month) include in it part of the reserves formed for active operations that, due to restrictions introduced on July 21, 2022, have not been included.
Beginning September 1, the National Bank of Ukraine is set to permit banks to progressively incorporate, at a rate of 10% every month, reserves generated for active operations that were previously excluded due to restrictions imposed on July 21, 2022. This adjustment aims to bolster financial stability by enabling banks to effectively manage foreign-exchange risk, thereby supporting lending and foreign-currency operations, according to a press release from the NBU.
The regulator also announced other easing measures for foreign-exchange restrictions affecting individuals and businesses, which began on August 11. The delay in implementing changes for banks until September 1 was attributed to the need for preparatory work by both the NBU and banks. The modifications, approved by NBU Board Resolution No. 239 dated August 10, 2026, will allow banks to fully account for additional reserves for active operations by June 1, 2027.
Starting August 11, banks will also be permitted to convert funds raised as capital instruments back into nonresident status if the NBU had previously declined to include them. The easing measures are expected to enhance foreign investor confidence and facilitate further inflows of funds into Ukraine. The NBU estimates that the liberalization package will not pose risks to the foreign-exchange market's stability, as the necessary conditions have been established and each measure has been thoroughly analyzed.
The NBU has incorporated this foreign-exchange liberalization package into its updated macroeconomic forecast, projecting international reserves to reach nearly $70 billion in 2026 from the current $51.2 billion.
Written by urgent.news from Interfax-Ukraine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
