The National Bank of Ukraine has specified and confirmed a ban on buying foreign currency in the equivalent of over $10,000 on the market by companies, while the list of exceptions to the rule and permitted banks to exchange foreign currency under orders of clients has been expanded.

"Due to the introduction of restrictions… the authorized banks are permitted to exchange first tier foreign currency to second tier foreign currency under orders of clients to fulfill liabilities of clients in the currency," reads NBU resolution No. 248 of April 14 which amended resolution No. 160 of March 3, 2015.

The first tier foreign currency includes convertible currencies widely used for settling payments under international transactions, such as the U.S., Canadian and Australian dollars, euro, pound sterling, Danish and Norwegian krone, Icelandic and Swedish krona, Swiss francs and Japanese yen. The second tier foreign currencies include currencies that are not widely used for international payments, in particular, Russian rubles and Belarusian rubles, Turkish liras and Kazakh tenges.

The central bank expanded its list of exceptions to the ban on buying foreign currency by companies with foreign currency: if earlier it includes three positions, now it has 10 positions. Clients of banks cannot include the funds bought earlier but not used in the term set in Ukrainian law to settle payments, as well as the funds in arrested accounts; funds received as a loan from the Finance Ministry and international financial organizations and under international technical aid programs.

In addition, funds in the accounts of clients-intermediaries received under the fee, order, consignation or agent agreements which are to be sent to the owner of the funds cannot be sold.

An exception was made for insurers for accounts where insurance reserves are held (for transactions to buy foreign currency by insurers and the Motor (Transport) Bureau of Ukraine).