Ukraine's central bank has announced a broad package of currency liberalisation measures aimed at easing financial restrictions for individuals, businesses and the financial sector, with the changes expected to give Ukrainians greater access to foreign currency and financial instruments, reported Ukraine Business News.

For individuals, the National Bank of Ukraine (NBU) will quadruple the monthly limit for purchasing foreign currency in non-cash form to UAH200,000 ($4,800), from UAH50,000. Within the same limit, individuals will also be able to buy non-cash banking metals and securities issued by foreign entities.

The central bank will also double the limit for cash withdrawals from foreign currency accounts in Ukraine and abroad to UAH200,000 a month from UAH100,000. The monthly limit for payments abroad from hryvnia accounts for goods, works and services will also rise to UAH200,000 from UAH100,000, including expenses such as housing rent.

The NBU is also easing restrictions for companies. The cash withdrawal limit from corporate hryvnia accounts in Ukraine will increase to UAH200,000 from UAH100,000. For hryvnia corporate cards used abroad, the limit will rise from UAH17,500 per week to UAH140,000 per calendar month.

The limit for cash withdrawals from corporate foreign currency accounts in Ukraine and abroad will double to UAH200,000. Companies will also be able to make larger payments abroad for goods, works and services using hryvnia corporate cards, with the monthly limit increasing to UAH400,000 from UAH150,000.

The NBU said the measures are also intended to stimulate capital inflows and strengthen Ukraine's defence capabilities. Ukrainian exporters will be allowed to make payments to non-resident counterparties under goods export contracts to cover fines, penalties, bonuses, cost reimbursements and losses.