The daily volume of operations abroad on hryvnia cards issued in Ukraine is about $100M, creating significant pressure on the country’s reserves, said NBU top manager Alexei Lupin. On May 21, 2022, the National Bank of Ukraine lifted restrictions on setting the exchange rate at which banks debit hryvnia funds from customers’ accounts if customers pay with hryvnia cards abroad or withdraw cash from their cards. “Thus, the NBU has created an opportunity for the convergence of the currency conversion rate for those temporarily abroad and the rate for the purchase of liquid currency for citizens staying in Ukraine,” the regulator explained the purpose of this decision on Facebook.
Ukrainians are spending $100M per day on hryvnia cards abroad.
Ukrainians are spending $100M per day on hryvnia cards abroad.