Restrictions on Sale of Cashless Foreign Currency to Citizens are Eased, List of Licensing Authorities is Amendment

Restrictions on Sale of Cashless Foreign Currency to Citizens are Eased

According to the information from the official website of National Bank of Ukraine, NBU Resolution No. 104 dated 28.09.2023 entered into force on 29.08.2023, according to which:

banks are allowed to sell cashless foreign currency to the population asking to confirm the grounds or liabilities for conducting such a transaction. The transactions will be carried out at the exchange rate set by the bank within the monthly limit of UAH 50,000 (in the equivalent) in one bank;

the monthly limit for the purchase of cashless foreign currency by the population has been increased – from UAH 100,000 to UAH 200,000 (in the equivalent) – for the purpose of depositing it for three calendar months or more.

Let us please remind you that the mentioned provisions were adopted by the National Bank of Ukraine within the framework of the implementation of the Strategy for easing FX restrictions, transition to greater exchange rate flexibility and return to inflation targeting.

List of Licensing Authorities is Amendment

According to the information from the Ministry of Economy of Ukraine, the Cabinet of Ministers of Ukraine, by its Resolution No. 912 of dated 25.08.2023, made changes to the list of licensing authorities.

By such changes, in particular, the Ministry of Economy of Ukraine is excluded from the list as the licensing authority for licensing economic activity in mediation in employment abroad.

Such a decision was adopted in order to bring the list of licensing authorities and types of licensed economic activities into compliance with the legislation.

Let us please remind you that in March 2023 the Verkhovna Rada of Ukraine adopted Law 2982-IX, which, inter alia, cancels the requirement for licensing of economic activity of mediation in employment abroad entirely.

The introduced changes will enter into force simultaneously with the entry into force of the Law, that is, on 14.10.2023.