Last Thursday, July 21, the National Bank of Ukraine published on its official website news about the changes on the currency market. The hryvnia exchange rate to the US dollar continues to be fixed by the bank. Because of the war, the fixed official exchange rate against the US dollar is the main factor of regulation and the key means of fulfilling the NBU’s priority objectives. They are to ensure stability, which is essential for economic and financial reconstruction.
- We have prepared a list of the changes that have been set by the NBU:
- The conditions for setting the rate of sale and purchase of currency in the cash and non-cash segments of the market remain unchanged.
- In order to balance supply and demand on the currency market the National Bank is taking additional measures:
- citizens can still withdraw from hryvnia payment cards abroad 50 thousand UAH (in equivalent) per month;
- monthly limit for P2P transfers of citizens abroad from payment cards of Ukrainian banks in hryvnia was reduced from UAH 100 thousand to UAH 30 thousand;
- a monthly limit for settlements abroad by means of hryvnia payment cards in the amount of UAH 100 thousand (in the equivalent) from all accounts of the client in the bank opened in the national currency was established. This restriction will not affect the majority of the citizens staying abroad;
- Also, in the near future the NBU may introduce a separate procedure for currency purchase by banks for their own needs.
The above changes were made by the Board of the National Bank of Ukraine on July 21, 2022 No. 154 “On Amendments to the Decree of the Board of the National Bank of Ukraine dated February 24, 2022 No. 18”, which comes into force on July 21, 2022 (click here for details).
Recall that on July 21, the NBU adjusted the official exchange rate of the hryvnia to the dollar by 25% to UAH 36.5686 per dollar. Prior to that, from February 24, the exchange rate was set at UAH 29.2549 per US dollar.
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