The National Bank of Ukraine has extended the limit on cash issuance to legal entities and individual entrepreneurs in the amount of up to UAH 80,000 per month.
The NBU board adopted the corresponding resolution N692 "On Certain Issues of Banks' Activity" on December 29, 2004, repealing resolution N576 of November 30, 2004, which had first introduced such a restriction.
Above the limit, cash may be issued for the payment of wages, financial assistance, social and equivalent payments, for the issuance of loans by credit unions and the return of funds attracted from their members, as well as for payment of business trips and the purchase of agricultural products from the population.
The National Bank also withdrew the recommendation to limit cash withdrawals at ATMs to UAH 1,500 per day.
"In certain cases, banks may apply to the NBU's territorial administrations with substantiated applications to obtain permission for the issuance of cash in large amounts," the document also states.
The introduction of this restriction was criticized by stock market participants, as it sharply narrowed their ability to purchase shares from individuals.
Earlier, the NBU canceled the moratorium on early withdrawal of deposits from January 10 and eased restrictions on banks' active operations.