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.
"This change will contribute to financial stability in the country by restoring banks' ability to fully manage foreign-exchange risk, as well as support lending and other active operations by banks in foreign currency," the NBU said in a press release on its website Monday.
The regulator, which also announced the introduction of a number of other easing measures for foreign-exchange restrictions for individuals and businesses starting August 11, explained that the postponement of the introduction of this change for banks until September 1 was due to the need for preparatory work by both the NBU and banks to implement it.
The changes regarding the restoration of foreign-exchange position calculations on economically sound principles were approved by NBU Board Resolution No. 239 dated August 10, 2026, "On Amendments to the Methodology for Banks' Calculation of Open Foreign-Exchange Position Limits." Under the resolution, banks will be able, in 10% increments, to fully catch up by June 1, 2027, in accounting for the additional reserves for active operations accumulated during the war in their foreign-exchange positions.
Starting August 11, banks will also be allowed to return to a nonresident funds raised from it as capital instruments in cases where the NBU itself has refused to include them in capital.
"The easing will help increase the confidence of foreign investors and facilitate further inflows of funds into Ukraine," the regulator commented on its decision.
According to the NBU's estimates, the easing of foreign-exchange restrictions will not create risks to the stability of the foreign-exchange market, given that the necessary prerequisites have been established and each individual measure has been carefully analyzed. The NBU said that this foreign-exchange liberalization package has already been incorporated into its updated macroeconomic forecast, which projects international reserves to increase to nearly $70 billion in 2026 from the current $51.2 billion.