According to Vadim Iosub, senior analyst of the investment company Alpari, in August 2017 National Bank of Ukraine (NBU) scrapped a restriction on foreign exchange deposits for individuals who had henceforth the ability to access their accounts via ATMs or at bank cash desks and withdraw cash currency without limitation of the amount. A limit to buy foreign exchange by individuals was increased to the equivalent of 150,000 grivnas last year, from 12,000 grn.
However, some administrative restrictions are still in force and foreign exchange transactions are governed by a plethora of enactments. President Poroshenko introduced the bill of currency into the Supreme Council of Ukraine on March 19 and asked to adopt it as a matter of great urgency.
Oleg Churiy, NBU deputy governor, has said this law is needed because the active legislation, which regulates foreign exchange transactions, is complicated and contradictory. It is worth noting too that Kiev assumed commitments in terms of the free movement of capital within the framework of the EU-Ukraine Association Agreement.
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