NBU: Easing currency restrictions did not affect market stability
Kyiv • UNN
The NBU's easing of currency restrictions affected less than 10% of total cross-border transfers. Ukraine's international reserves reached $43 billion, approaching historic highs.
The National Bank of Ukraine has stated that the easing of currency restrictions has not caused significant changes in the foreign exchange market. The share of transfers related to liberalization does not exceed 10% of the total volume, and a significant part of them is made at the expense of the business's own currency, UNN writes.
According to the NBU, the currency liberalization measures introduced did not have a significant impact on the stability of the foreign exchange market and its functioning. The regulator claims that the share of cross-border transfers related to these changes was less than 10% of the total volume, with about 40% of such transactions being made using the business's own currency.
The NBU says that the lack of legal mechanisms for transferring funds could lead to their withdrawal through illegal channels, which would complicate control over financial flows and affect international reserves.
Instead, the gradual and balanced easing of currency restrictions helped preserve the country's financial resources and expanded business opportunities. As of January 2025, Ukraine's international reserves exceeded USD 43 billion, approaching historic highs.
Recall
On September 10, 2024, the National Bank of Ukraine amended the existing currency restrictions. It eased a number of restrictions and took measures to counteract unproductive capital outflows from Ukraine.
