The National Bank of Ukraine has introduced some temporary restrictions on the issuance of large amounts of cash and currency exchange. The relevant resolution was adopted by the NBU due to the declaration of martial law. Meanwhile, bank branches are operating normally, and there are no restrictions on non-cash payments.
According to the resolution, from February 24, 2022, the following restrictions are temporarily imposed:
- suspend the operation of the foreign exchange market of Ukraine, except for foreign currency sales by customers;
- to fix the official exchange rate for February 24, 2022;
- limit cash withdrawals from the client’s account in the amount of UAH 100,000 per day (excluding salaries and social benefits), except for enterprises and institutions that ensure the implementation of mobilization plans (tasks), the Government and individual permits of the National Bank without accrual and withdrawal of commissions;
- to prohibit the issuance of cash from clients’ accounts in foreign currency except for enterprises and institutions that ensure the implementation of mobilization plans (tasks), the Government and certain permits of the National Bank;
- introduce a moratorium on cross-border foreign currency payments (except for enterprises and institutions that ensure the implementation of mobilization plans (tasks) and the Government, certain permits of the NBU);
- to suspend the implementation of expenditure operations by servicing banks on the accounts of residents of the state that carried out the armed aggression against Ukraine;
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to suspend e-money issuers, replenish e-wallets with e-money, and distribute e-money to e-money issuing banks.
The exchange rate of the NBU can be viewed here.
It will be recalled that Russian President Vladimir Putin issued an emergency appeal to the Russians at 4 am announcing the beginning of a «special military operation.» He says he made his decision after he was approached by the leaders of the self-proclaimed «republics» in Donbas.
Today, February 24, at 5:00 am, the Armed Forces of the Russian Federation began intense shelling of our units in the east, fired missiles at airfields in Boryspil, Ozerne, Kulbakin, Chuguev, Kramatorsk, Chornobayivka, and military facilities of Ukraine. Martial law is imposed on the whole territory of Ukraine.
Citizens are urged to remain calm, stay at home whenever possible and follow government reports. In particular, Lviv residents are warned about the possible appearance of saboteurs on the streets.
Translated by Vitalii Holich
You can read a Ukrainian language version of this story here.
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