Ukrainian central bank issues biggest currency liberalisation since 2022 invasion
The regulations provide significant increases in allowances for purchases of foreign currency and withdrawals from Ukrainian bank accounts.
Ukraine's National Bank of Ukraine has announced the largest currency liberalisation measures since the Russian invasion began in February 2022. The aim is to boost business and investor confidence in the country. The new regulations significantly increase allowances for purchasing foreign currency and withdrawing funds from Ukrainian bank accounts.
The monthly limit for buying non-cash currency and investing in bank metals and foreign securities has been quadrupled from ₴50,000 to ₴200,000 (US$4,450). The daily cash withdrawal limit from accounts in Ukraine and abroad has been doubled to ₴200,000. Furthermore, the monthly limit for transactions from cards denominated in hryvnias has been raised to ₴200,000.
The central bank believes these measures will not create risks for the stability of the currency market, as they have been taken into account in their updated macroeconomic forecast, which predicts international reserves will reach nearly US$70 billion by 2026.
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