The National Bank of Ukraine (NBU) has recorded a strengthening of the national currency against the backdrop of a decline in the value of major global currencies. On Thursday, July 9, the official exchange rates for the US dollar and the euro were adjusted downwards, continuing the trend of recent days.
Dollar and euro drop in value
The American currency continued its decline against the hryvnia. The official exchange rate for the dollar on July 9 was set at 44.47 UAH. This is 3 kopecks lower than the previous day's figure (44.50 UAH).
The European currency demonstrated an even more noticeable drop. The value of the euro fell by 19 kopecks compared to July 8 and now stands at 50.69 UAH (previously 50.88 UAH).
Banking secrecy and data access
Aside from currency fluctuations, changes in legislation regarding banking secrecy are being discussed in the financial sector. Serhiy Naumov, President of the National Association of Banks of Ukraine (NABU), commented on the situation, assuring that nothing fundamental will change for ordinary clients.
According to the expert, banking secrecy remains protected by law. Access to information is possible only in cases explicitly provided for by legislation. Banks will not begin transmitting data on all clients without cause, and for most citizens and businesses, daily financial operations will not undergo changes.
New rules for debtors
The most tangible consequences of the bill coming into force will affect citizens listed in the Unified Register of Debtors. The document clarifies the procedure for state and private bailiffs, as well as the National Bank, to obtain information.
Specifically, asset freezes for debt repayment can now be applied not only to funds in bank accounts but also to electronic wallets and electronic money.
Simplification of write-off procedures
The bill also provides for positive changes aimed at simplifying procedures for those who have fulfilled their obligations. If the debt amount does not exceed ten minimum wages (86,470 UAH), the process of lifting restrictions will become automatic.
After the debt is fully repaid, the Automated System of Enforcement Proceedings will automatically notify the bank. Based on this notification, the debtor will be removed from the Unified Register, and the freeze on funds will be lifted without the need to go through additional bureaucratic procedures.
