KIEV, April 29 – The Council of the National Bank of Ukraine has approved some recommendations to the NBU's board, including on placing restrictions on cash transactions.

"In order to improve cash payments and stimulate the reduction of the share of cash outside banks the NBU is recommended to take measures to set a limit on the sum of cash payments between companies (businessmen) and individuals, as well as cash payments of individuals between each other under sale and purchase agreements, which are to be endorsed by notaries," reads a posting on the NBU's Web site.

As reported, setting the limit for cash payment at UAH 150,000 is being discussed, and a decision could be made in the near term.