Statist insanity continues: Ukraine Bans Gold Transactions Over $125, Currency Derivatives and Interbank Purchases Exceeding $10,000

Today the National Bank of Ukraine announced new capital controls on currency transactions. All Interbank Transactions Over $10,000 are Banned.

Quote :: The national Bank of Ukraine has expanded the list of administrative restrictions for stabilization of the hryvnia, in particular, completely prohibiting the withdrawal of foreign dividends and limiting the purchase of foreign currency on the domestic markets.

Resolution No. 160 is effective from March 4, 2015 and is valid until June 3, 2015.

Previously, prohibitions did not target dividends on securities that are traded on stock exchanges.

The NBU has also introduced limits on the balance of banks' operations on the interbank market at the end of the day and banned financial institutions from using currency derivatives on stock exchanges.

These restrictions apply to customer's accounts over $10,000 as valued by the official rates.

Gold Buying Prohibited

In addition, the NBU banned precious metal transactions in amounts over 3,000 UAH [about $125], and also the transfer of currency abroad in excess of 15 thousand UAH [about $625].

Anarcho-Capitalist Categorical Imperatives