The National Bank allowed non-bank financial institutions to withdraw currency without restrictions

Date:

The National Bank allowed non-banking financial institutions to withdraw unlimited amounts of national and foreign currency from their bank accounts to supplement their own cash registers or the cash registers of separate units. Corresponding changes are foreseen by the resolution of the board of the NBU dated June 30, 2023 No. 88which entered into force on July 1.

“This will help to expand the supply of foreign currency that does not show signs of significant wear or damage in the cash currency market, where citizens can buy and sell foreign currency. In addition, granting permission to non-banking financial institutions to withdraw cash hryvnia without restrictions will make it possible to maintain the hryvnia liquidity of the latter at an appropriate level, which is important for their smooth acceptance of cash foreign currency from citizens,” the National Bank notes.

In order for the granted permission to be used exclusively for the purpose of ensuring a stable situation on the foreign exchange market, the NBU defined the conditions that non-bank financial institutions must comply with.

Thus, the amount of cash withdrawn in hryvnia or foreign currency by a non-banking financial institution should not exceed the amount of funds in hryvnia or foreign currency that was previously credited to their bank account, in particular:

  • a non-banking financial institution can credit the hryvnia account with funds received through currency exchange transactions and from the sale of non-cash foreign currency;
  • to an account in foreign currency – funds received from currency exchange operations and as compensation for foreign currency banknotes accepted for collection.

Share post:

Popular

More like this
Related

At night, the enemy shelled several communities in Nikopol region 10 times, – the head of the Dnipropetrovsk OVA

The head of the Dnipropetrovsk OVA, Serhiy Lysak, reported...

Joe Biden strongly condemns the missile attack on Poltava – a statement from the White House

US President Joseph Biden "strongly" condemns this "horrific attack",...