Starting August 11, a new package of foreign exchange liberalization measures will take effect in Ukraine, providing significantly expanded opportunities for the public, businesses, and the financial sector. The National Bank of Ukraine has substantially increased the limits on the purchase and withdrawal of foreign currency using bank cards.
The new rules are intended to simplify foreign exchange transactions and expand Ukrainians’ access to financial services related to foreign currency.
In terms of the number of measures, this new package will be the largest since the start of the full-scale invasion. The main focus is on expanding opportunities for the public, particularly for Ukrainians living abroad.
The NBU noted that the impact of these changes has already been factored into its new macroeconomic forecast.
“Forecast for international reserves: growth to $70 billion in 2026. Therefore, the liberalization package will not pose any risks to the foreign exchange market,” Pyshnyy emphasized.
What Will Change for Ukrainians
The changes will primarily affect transactions involving citizens’ own funds.
First and foremost, the limit on the purchase of non-cash foreign currency will increase fourfold. Instead of 50,000 hryvnias per month, it will be 200,000 hryvnias.
At the same time, within the established limit, it will be possible to purchase more than just foreign currency. The limit will also be allowed to be used for the purchase of non-cash bank metals and securities issued by foreign issuers.
Thus, Ukrainians will have more opportunities to manage their savings and make investments.
Another important relaxation concerns cash withdrawals from foreign currency accounts. The daily limit will be doubled—from 100,000 to 200,000 hryvnias. This rule will apply to withdrawals both in Ukraine and abroad.
The rules for making payments abroad from hryvnia accounts will also change. The monthly limit for paying for goods, work, and services will be increased from 100,000 to 200,000 hryvnias.
Within this limit, it will also be possible to pay for housing rentals abroad. In addition to card payments, transfers will be allowed directly from account to account, including via SWIFT.
The options for using foreign currency accounts will also be expanded. In addition to the usual payments with foreign currency cards, account-to-account transfers will be allowed within a monthly limit of 200,000 hryvnias.
At the same time, the monthly limit of 500,000 hryvnias for paying for accommodation abroad with a foreign currency card will also be extended to cover housing rentals and account-to-account payments.
“The logic behind all these steps is simple: to gradually remove restrictions where the macrofinancial situation already allows it, and to give people more freedom to manage their own funds,” noted the head of the NBU.
What changes are planned for businesses
A separate section of the new package concerns legal entities.
An additional limit will be introduced for businesses, which will include direct charitable contributions made by companies to military units of the Armed Forces of Ukraine and the National Guard.
In addition, companies will be able to transfer their “investment” and “additional” limits—or portions thereof—to other legal entities that are part of the same business group.
The National Bank of Ukraine (NBU) believes that these changes should facilitate capital inflows while simultaneously supporting Ukraine’s defense capabilities.
What Will Change for the Financial Sector
Relaxations are also provided for the financial sector.
In particular, the Motor Transport Insurance Bureau of Ukraine (MTIBU) will be able to purchase foreign currency to fulfill its obligations under international “Green Card” motor insurance agreements.
For banks, the NBU will allow them to gradually include in their foreign exchange position calculations a portion of the reserves set aside for active operations, which is currently excluded from the calculation.
Banks will also be able to return funds raised from non-residents as capital instruments if the National Bank has refused to include them in the bank’s capital.
“The team has done a very thorough job. All the details are already on the website—in the press release and our resolutions. This is literally an illustration of our thesis that ‘currency liberalization is an important task for the NBU,’” Pyshnyy concluded.
This was reported with reference to a Facebook post by Andriy Pyshnyy, head of the National Bank of Ukraine.
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