The NBU has been pressing forward with its currency liberalization efforts. Specifically, starting 30 June:
- Authorized institutions will be able to sell cash foreign currency to individuals for noncash hryvnias through payment devices using the electronic means of payment of the individual making such a transaction.
Authorized institutions will also be allowed to purchase and sell cash foreign currency from and to individuals for noncash hryvnias at the cash desks of authorized institutions, their standalone units, and foreign exchange offices.
- The banks will be able to purchase and sell investment metals, with delivery, to individuals for noncash hryvnias, and sell coins made of these metals to legal entities.
- Opportunities for the public to invest abroad have been expanded: a resident individual will be able to make these transactions through a resident securities trader.
The trader will act as a broker (on behalf of the individual making the investment) to invest the individual’s money in foreign financial instruments. More specifically, foreign currency will be transferred from the resident’s current account with a bank to the trader’s current account with the same bank. These funds will then be wired abroad or into the current accounts of nonresidents opened in Ukraine.
- The list of exemptions from the annual e-limit for a number of FX transactions by legal entities and sole proprietors has been clarified.
In particular, this list now includes transactions by a resident debtor to reimburse funds to a nonresident guarantor who has fulfilled the resident debtor’s commitments, secured by a guarantee or surety, to a resident creditor.
- The NBU has lifted the time limit for correcting errors in the contract notice provided by a bank to the NBU’s automated information system Loan Agreements with Nonresidents.
Changes have also been made to improve certain provisions of NBU regulations for the FX sector and promote the further development of new services provided by authorized institutions in trading in currency valuables. These changes will also reinforce the protection of citizens who invest abroad.
These amendments were approved by NBU Board Resolution No. 62 On Amendments to Certain Regulations of the National bank of Ukraine dated 29 June 2021, and are effective from 30 June 2021.