2024-09-09T14:44:00+03:00 Finance 2024-09-21T04:00:02+03:00

Ukrainian news

NBU setting limits for purchase of watches, jewelry and real estate abroad

NBU setting limits for purchase of watches, jewelry and real estate abroad

The National Bank sets limits for the purchase of watches, jewelry and real estate abroad.

This is stated in the message of the NBU, the Ukrainian News agency reports.

As noted in the NBU, this will contribute to the preservation of international reserves at a sufficient level, which is important both for protecting the stability of the foreign exchange market and for faster movement in the direction of easing currency restrictions.

The strengthening of restrictions will apply to payments abroad using payment cards issued by Ukrainian banks to accounts in foreign currency, for payment of a number of goods and services, in particular:

- watches, jewelry, silverware, precious stones, coins, etc. abroad. The NBU sets a monthly limit of UAH 100,000 equivalent for payments abroad made using payment cards opened by Ukrainian banks for accounts in foreign currency, for transactions with merchant codes 5094 (precious stones, metals and jewelry), 5944 (watches, jewelry and silverware) and 5972 (coin and stamp stores). This limit corresponds to the general limit established by the NBU for payments abroad with payment cards issued by Ukrainian banks for accounts in the national currency. The necessity of this measure was confirmed by the analysis carried out by the NBU with the involvement of banks and payment systems. He confirmed the existence of attempts to avoid the restriction on the purchase of bank metals outside of Ukraine, established by the NBU during the period of martial law;

- operations with agents and real estate managers abroad. A monthly limit of UAH 500,000 equivalent is established for payments abroad made using payment cards opened by Ukrainian banks for foreign currency accounts, for transactions with merchant code 6513 (real estate agents and managers). Transactions with this code are used to pay management fees, accommodation fees and related fees. The limit of UAH 500,000 takes into account the needs of Ukrainians who are outside Ukraine or traveling abroad, and meets the needs of 98% of the clients of banks that carry out these operations. It will make it possible to prevent attempts to circumvent the restrictions set by the NBU on relevant operations and to avoid the outflow of capital from Ukraine in significant volumes.

As the Ukrainian News agency earlier reported, starting October 1, 2024, the National Bank temporarily, for six months, sets a limit of UAH 150,000 per month for card-to-card (also known as P2P, C2C) transfers of individuals.