National Bank Limited Cash Withdrawals

Non-cash payments are carried out without restrictions, the head of the NBU said. The National Bank of Ukraine fixed the hryvnia exchange ra...

Non-cash payments are carried out without restrictions, the head of the NBU said.

The National Bank of Ukraine fixed the hryvnia exchange rate at 29.25 hryvnias per dollar. The regulator also limited cash withdrawals at the level of UAH 100,000 per day. This was announced at a briefing by the head of the National Bank of Ukraine Kirill Shevchenko.

In addition, the regulator suspends the foreign exchange market, except for the sale of foreign currency.

As the head of the NBU stressed, cash withdrawals are limited to UAH 100,000 per day, excluding salaries and social benefits. This does not apply to enterprises and institutions that ensure the implementation of government mobilization plans. It is also prohibited to issue cash from customer accounts in foreign currency, except for institutions that ensure the implementation of government tasks.

A moratorium is being introduced on cross-border currency payments with the same exceptions.

Banks issuing electronic money stop their issuance and circulation. Shevchenko added that non-cash payments are carried out without restrictions. Also, the National Bank promptly adopted a Resolution, which provides for supporting ATMs with cash without restrictions; banks to ensure the operation of branches in an uninterrupted mode in the absence of a threat to the life and health of the population; ensure uninterrupted access to safe boxes.

"These measures are temporary, but extremely necessary now," the head of the National Bank summed up.

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