The National Bank of Ukraine (NBU) lifted a restriction on May 21 that allowed authorized institutions to sell cash foreign currency to customers with a deviation from the official no more than 10%, the press service of the regulator said on Friday.
Relevant changes were adopted by the NBU Board Resolution №102 of May 20, which was published on the Central Bank’s website and comes into force on May 21.
The document also removes similar restrictions on setting the exchange rate at which banks write off hryvnia funds from customers’ accounts if customers pay with hryvnia cards abroad.
“Removing restrictions on the exchange rates at which banks sell currency to the public will improve the working conditions of legal market participants. This will increase competition, increase liquidity in the legal segment and reduce illegal transactions. All this will make the foreign exchange market more stable and reduce exchange rate amplitude. fluctuations in its cash segment, “the press service of the Deputy Head of the NBU Yuri Geletiy was quoted as saying.
