10:15 04.09.2015

NBU extends basic restrictions for another three months, loosens limits on forex deposits - resolution

2 min read
NBU extends basic restrictions for another three months, loosens limits on forex deposits - resolution

The anti-crisis measures which the National Bank of Ukraine (NBU) introduced in 2014-2015 have been extended for another three months until December 4, 2015, according to NBU resolution No. 581 on the settlement of the situation in the monetary and currency market of Ukraine, dated September 3.

According to the resolution, in particular, the NBU has retained its requirements on the mandatory sale of 75% of foreign currency earnings and its return to Ukraine in 90 days, daily limits of forex sales to one person within UAH 3,000, and the issuance of cash in the national currency through cash desks and ATMs remains limited to UAH 300,000.

At the same time, the maximum amount of the issuance of foreign currency deposits to one client per day was increased from the equivalent of UAH 15,000 to the equivalent of UAH 20,000.

In addition, the NBU slightly relaxed the ban it imposed on banks regarding purchases of foreign currency on behalf of resident clients (except for individuals), who have more than $25,000 in the equivalent on bank accounts. The regulator continues to not take into account balances in accounts in foreign currency of the third group.

"This will allow customers, who have remains of non-convertible currencies on their accounts, to buy foreign currency," the NBU said.

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