This decision was made to maintain the steadiness of the overseas trade industry, the NBU discussed, lessening pressure on Ukraine’s intercontinental re-serves and avoiding unproductive capital outflows.
In addition, from Apr. 30, 2022:
Banking institutions will suspend the issuance of new financial savings certificates denominated in foreign currency (the restriction does not implement to financial institutions attracting deposits in overseas forex)
Banking institutions are temporarily prohibited from entering into a range of revenue market by-product contracts (besides for swaps), namely, contracts on the foundation of which obligations come up for the functions to this agreement to order or market foreign forex or valuable metals in trade for UAH contracts, the simple indicator of which is the exchange charge of a foreign forex against the UAH, an trade rate index (rates of various currencies) denominated in UAH or the selling price of precious metals in UAH.
Also, from Apr. 30, the National Lender of Ukraine clarified the procedure for financial institutions to ascertain the UAH trade rate versus foreign currencies, for on line transactions. The UAH trade amount in opposition to foreign forex shall not exceed the official level by far more than 10% of the Countrywide Lender of Ukraine rate, when debiting resources in UAH from the client’s account, if the interbank transfer for this sort of a client’s transaction is carried out in foreign forex.
The UAH exchange amount in opposition to international currency shall be equal to or better than the formal fee of the Countrywide Bank of Ukraine in circumstance of debiting money in international currency from the client’s account, if the interbank transfer for these kinds of a client’s transaction is carried out in UAH when money are credited to the client’s account in national currency, if the interbank transfer for such operation is made in foreign currency.
On Feb. 24, the NBU suspended the perform of the foreign trade market place, mounted the exchange price and confined income withdrawals to UAH 100,000 for each working day.
On March 2, the NBU authorized the withdrawal of foreign forex money from accounts, but in the equivalent of no additional than UAH 30,000.
On Apr. 14, the National Financial institution of Ukraine allowed financial institutions to provide foreign funds to the public.
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