Key facts
- Ukraine's central bank has implemented its most significant currency liberalisation since the 2022 invasion.
- The measures aim to boost business and investor confidence.
- Monthly allowances for purchasing foreign currency and investments increased from 50,000 to 200,000 hryvnias.
- Daily cash withdrawal limits were doubled to 200,000 hryvnias.
- Monthly limits for hryvnia card transactions were raised to 200,000 hryvnias.
Ukraine's central bank announced on Monday its most significant currency liberalisation measures since the full-scale Russian invasion began in February 2022. The move is intended to bolster business and investor confidence.
The newly issued regulations substantially increase the allowances for purchasing foreign currency and withdrawing funds from Ukrainian bank accounts. The monthly limit for acquiring non-cash currency, investments, bank metals, and foreign securities has been quadrupled from 50,000 to 200,000 Ukrainian hryvnias (approximately $4,450).
Furthermore, the daily limit for cash withdrawals from accounts both within Ukraine and abroad has been doubled to 200,000 hryvnias. The monthly transaction limit for cards denominated in hryvnias has also been raised to 200,000 hryvnias.
The central bank stated that the package of eased currency restrictions is designed to simplify life for Ukrainians living abroad and expand opportunities for citizens residing in Ukraine. The bank assured that these measures would not pose risks to the stability of the currency market, citing careful analysis and established conditions. The NBU has incorporated these changes into its updated macroeconomic forecast, which anticipates international reserves growing to nearly $70 billion by 2026.