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No IDs for exchanges under 150,000 hryvnyas after 10 August

In H1 2016, Ukrainian banks have bought 1.9bn dollars from the population.

The National Bank of Ukraine has simplified cash transactions in foreign currency for individuals. From August 10, Ukrainians will be able to change currency in the amount of up to 150 thousand hryvnia without providing identification documents, central bank said in a release on 3 August.

Until now, a natural person was to present a passport during a cash currency exchange transaction.

The requirement to provide documents during transaction in excess of 150 thousand hryvnia will remain in force.

The National Bank noted that the population is of late selling more currency than buying. In Jan-July 2016, the net purchase of cash foreign currency by banks reached $ 1.9bn.

"Given the stabilization on the situation on currency market, the board of the National Bank deems it possible to liberalize the requirements for foreign exchange transactions by individuals," the NBU said.

The National Bank gradually has been softening its monetary policy since August 2015. On June 8, the National Bank increased the limit on the sale of foreign currency to the population up to 12 thousand hryvnia without mandatory photocopying of the client's passport.

Also, the National Bank has allowed commercial banks to change the exchange rate throughout the day.

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