The National Bank continues easing currency restrictions: What has changed?

Changes that ease currency restrictions in three areas came into force on December 21. This easing will support domestic producers and improve the conditions for doing business in Ukraine. At the same time, it will not significantly impact exchange rate dynamics or the international reserves level.

1. The NBU allowed legal entities and individual entrepreneurs to buy and sell bank metals without physical delivery for non-cash hryvnias.
2. The NBU permitted expanded currency purchases for Energoatom. These changes will enable the uninterrupted supply of nuclear fuel, which is vital for the operation of nuclear power plants and, accordingly, for Ukraine’s energy security, the NBU noted.
3. The NBU continues to unify approaches to paying for Eurobond coupons by Ukrainian businesses. The norms have been optimized so that all Ukrainian companies that raised funds to finance projects in Ukraine through the issuance of Eurobonds have the same opportunities to reimburse non-residents. These transfers can only be made in their foreign currency if certain conditions specified in the NBU resolution are met.