The National Bank of Ukraine eased part of the currency restrictions. The changes include the repatriation of dividends, the expansion of hedging instruments, foreign currency transfers and the unification of the regulation of foreign loans. About this reported NBU press office.
The National Bank of Ukraine eases a number of currency restrictions. The new currency liberalization package is designed to provide business with incentives and opportunities without creating significant additional demand on the currency market of Ukraine. Almost all of the changes come into effect on August 6, 2025. The exception is the permission to return erroneously transferred funds from abroad in foreign currency — it will come into effect on August 7, 2025.
Companies will be able to repatriate dividends for 2023 within the limit of 1 million euros equivalent per month. According to the NBU, this will not generate significant additional demand for the currency. Opportunities for hedging currency risks within the framework of the program with the IMF are expanding. This applies to operations of banks selling currency for hryvnias on forward terms without delivery of the underlying asset.
Resident clients (legal entities and FOPs) will be able to buy currency from banks on forward terms with the delivery of the underlying asset to hedge risks associated with exchange rate fluctuations during import operations. The bank will be able to carry out such operations only within the scope of the currency purchased on forward terms from other customers, so these changes will not create pressure on the foreign exchange market.
The rules for transferring foreign currency abroad are clarified. Legal entities and individuals will be allowed to return erroneously credited currency transfers. To do this, you need to submit an application within three working days of receiving the transfer notification. In addition, resident maritime agents will be able to transfer abroad the balance of unused funds received from non-resident shipowners or other creditors.
Changes are being introduced to support the Ukrainian jewelry industry. Legal entities and non-profit organizations engaged in the sale of jewelry will be allowed to buy bank metals for non-cash hryvnias if certain conditions are met. The pressure on the foreign exchange market will be limited, given that the purchase of bank metals through official channels will reduce the volume of the gray market.
Approaches to the regulation of external loans are being unified. The changes concern loans granted by a pool of foreign creditors, which includes an international financial organization. Enterprises will be able to service and repay such loans not only for the benefit of MFIs, but also for other members of the credit pool, if they are first-class foreign banks with a rating not lower than “A”. It is also allowed to transfer funds from Ukraine to satisfy recourse claims of foreign guarantors, guarantors or insurers who have already paid the resident’s obligations under the relevant loans.
The NBU continues to implement currency liberalization. The list of operations that resident legal entities can carry out beyond the established limits within the investment limit has been expanded — they include the repatriation of dividends.
Legal entities that support the Armed Forces of Ukraine will be allowed to make a number of cross-border transfers in excess of the established limits within the limits of the amount equivalent to the amount of funds they transferred to a special account of the NBU in national or foreign currency from August 7. Conditions are also created for the conversion of a resident’s debt under an external loan into a non-resident’s contribution to the authorized capital of this resident.
