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Ukraine's central bank to remove foreign currency cash sale limits - governor

Published Dec 01, 2023 12:06
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© Reuters. FILE PHOTO: Andriy Pyshnyi, Governor of the National Bank of Ukraine, speaks during a presentation of a banknote dedicated to the first anniversary of Russia's invasion on Ukraine, in Kyiv, Ukraine February 23, 2023. REUTERS/Valentyn Ogirenko/File Photo
 
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KYIV (Reuters) - Ukraine's central bank will remove limits on banks' sale of foreign cash currency and soften several other restrictions from Friday, Governor Andriy Pyshnyi said.

In a Facebook (NASDAQ:META) post, Pyshnyi wrote that the current limits on foreign currency sales had been one of the causes of the current spread between the official and unofficial exchange rates for the hryvnia, Ukraine's currency.

He said the change would narrow the difference between those exchange rates.

"In summary, this will strengthen the resilience of the currency market," he wrote late on Thursday.

Pyshnyi said Ukraine's Export Credit Agency would be allowed to send payments abroad to fulfil insurance agreements with foreign companies.

"In this way, we will provide the possibility of risk insurance to guarantee the safety of shipping and thus promote the stability of maritime transport even in the face of full-scale war," he said.

The central bank chief also announced the loosening of restrictions for Ukrainians to send money abroad for healthcare and education purposes.

Ukraine's central bank to remove foreign currency cash sale limits - governor
 

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