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Cancellation of limits and relaxation for business: what will the new rules for buying currency bring

In Ukraine, in 2021, the rules for buying dollars will be changed, in particular, limits on currency transactions can be removed and a number of other "easing" can be adopted.

As the Obozrevatel reports, this is one of the final stages of the foreign exchange market liberalization.

The media also notes that in 2021 the National Bank plans to allow all legal entities to buy currency without obligations in the form of foreign economic contracts. This means that any company will be able to buy foreign currency on the interbank market, as an individual does in exchange offices. And that will increase the liquidity of the foreign exchange market in the medium term (an increase in the volume of foreign exchange transactions and currency turnover in practice leads to a more stable dollar exchange rate).

Quote"The global strategy of the NBU implies a transition to the concept of capital free movement. This means the absence of restrictions on buying and selling currency, transfers, as well as investing abroad," the article says.

Thus, the last time the limits for the population were increased a month ago—the limits for operations on investing abroad, placing funds in person’s own foreign accounts, transferring money under a life insurance agreement and providing loans to non-residents were raised from 100,000 euros to 200,000 euros.

As a reminder, from January 17, 2021, the National Bank changed the rules for the sale and purchase of foreign currency in Ukraine. You can read more about this at the link.

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