The NBU Board has approved amendments to Resolution No. 18 On the Operation of the Banking System Under Martial Law dated 24 February 2022. Specifically, the central bank has:
- identified cases where authorized institutions are allowed on behalf of clients to trade in currency valuables, as well as the procedure for these transactions
- fixed the official exchange rate of the hryvnia against foreign currencies, the official exchange rate of the hryvnia against special drawing rights, as well as the estimated price of investment metals, at the levels at which they stood on 24 February 2022
- suspended, until a special decision, the calculation of the reference value of the hryvnia exchange rate against the U.S. dollar in accordance with the agreements concluded in the FX market of Ukraine as of 12 p.m.
- identified cases where authorized institutions are allowed to carry out cross-border transfers of currency valuables from Ukraine on behalf of clients
- prohibited authorized institutions from conducting any FX transactions in which:
- russian rubles and Belarusian rubles are used
- the participant of said transactions is a legal entity or an individual based in the Russian Federation or in the Republic of Belarus
- the participants of said transactions intend to meet commitments to legal entities or individuals based in the Russian Federation or the Republic of Belarus
- established a procedure for conducting the NBU’s daily transactions to purchase U.S. dollars from banks
- authorized banks to sell foreign currency to customers at the expense of their own currency position in order to fulfill their customers’ obligations to other banks under credit agreements (including interest)
- authorized banks that have currency valuables in their vaults at the time of the adoption of this Resolution, to sell said currency valuables to customers, provided that the amount of such sales does not exceed said level of currency valuables.
Under martial law, other NBU regulations remain in effect unless they contradict this Resolution.
Relevant changes were approved by NBU Board Resolution No. 21 On Amendments to NBU Board Resolution No. 18 On the Operation of the Banking System Under Martial Law dated 24 February 2022. The Resolution takes effect on the day of its signing.