The loophole for withdrawing currency abroad through virtual assets is closed.
The National Bank has closed a loophole through which up to $ 2.6 billion could be withdrawn from Ukraine in March-April. This is stated on the NBU website.
The regulator has established that from now on individuals will be able to carry out quasi-cash transactions (replenishment of electronic wallets, brokerage or forex accounts, payment of traveler's checks, purchase of virtual assets), using only their own foreign currency.
The limit for such transactions is UAH 100,000 per month in equivalent. It also applies to cross-border P2P transfers.
According to the National Bank, the relevant changes will help improve the foreign exchange market, which is a necessary prerequisite for easing restrictions in the future, as well as reducing pressure on Ukraine's international reserves.
According to the NBU, since the end of March, supply and demand for export-import transactions of customers in the foreign exchange market are generally balanced. At the same time, significant volumes of foreign currency purchases by banks for settlements with international payment systems create a certain additional pressure on the foreign exchange market.
In particular, in March international payment systems amounted to 1.7 billion dollars. US dollars, and since the beginning of April (as of April 18) – 0.9 billion dollars. USA.
On the one hand, the need for settlements with international payment systems arises as a result of the use by Ukrainian citizens of cards issued by Ukrainian banks to accounts in national currency outside the country for the purchase of goods and services. At the same time, such calculations are critical for the millions of citizens who have been temporarily forced to travel abroad.
On the other hand, payment cards are also used to pay for quasi cash transactions. “, Which are mainly carried out to circumvent the current restrictions of the National Bank, in particular for investing abroad, which is prohibited under martial law. Therefore, the relevant transactions should be interpreted as leading to unproductive capital outflows. As a result, the National Bank has partially limited the possibility of such transactions.
The changes do not apply to the use of payment cards abroad and in Ukraine for payments to pay for goods, works and services that can be provided without restrictions.
