NBU Lifts All Restrictions On Sale Of Foreign Currency To Households
Date
12/1/2023 7:16:59 PM
(MENAFN- UkrinForm) On December 1, the National bank of Ukraine (NBU) lifted all restrictions on banks and financial institutions selling cash to the public.
The NBU stated this, Ukrinform saw.
"All restrictions on banks and non-bank financial institutions on the amount of cash foreign currency they can sell to the public have been lifted," the statement said.
According to the NBU, this will help minimize the difference between cash and non-cash exchange rates. As a result, this will help stabilize exchange rate expectations and increase the stability of the foreign exchange market.
"The de facto existence of such restrictions is one of the reasons for the multiplicity of exchange rates. By lifting them, we have reason to expect that this will allow us to keep the difference between cash and non-cash exchange rates at a minimum," NBU Governor Andriy Pyshnyy said.
Read also: NBU governor reveals Ukraine's financial needs until year-en
In early October, the NBU announced the transition to a flexible dollar exchange rate. The NBU promised to limit exchange rate fluctuations, preventing both a significant weakening of the hryvnia and a significant strengthening.
At the end of August, the NBU allowed banks to sell non-cash foreign currency to households in the amount of UAH 50,000 without additional obligations. As a result, the dollar depreciated significantly.
Earlier, the NBU completed the first stage of the bank and banking system resilience assessment launched in May. The preliminary results are optimistic.
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