USD to UAH for business payments
A foreign business paying a supplier in Ukraine should usually pay in US dollars rather than convert to Ukrainian hryvnia (UAH). Under National Bank of Ukraine rules in force since February 2024, a bank may end supervision of an export when funds from a non-resident arrive in foreign currency, not hryvnia, so a dollar payment closes the supplier's export file and a hryvnia payment may not.
- The National Bank of Ukraine (NBU) fixed the hryvnia at the outbreak of the full-scale war and switched to managed flexibility of the exchange rate in October 2023, as part of its strategy to ease FX restrictions.
- Exports of goods carry a 180-day settlement deadline under NBU Resolution No. 18 of 24 February 2022, cut to 90 days for listed agricultural goods from 11 November 2023.
- From 21 February 2024, a bank may end supervision on the credit of funds from a non-resident only if the funds arrive in foreign currency, not hryvnia.
- After NBU Resolutions No. 2 and No. 3 of 13 January 2026, all exports of services except transportation are exempt from settlement deadlines.
- The NBU scrapped the rule requiring exporters to sell 30% of foreign currency earnings from 20 June 2019, so a Ukrainian supplier is not required to sell the dollars you pay.
The Ukrainian hryvnia at a glance
The Ukrainian hryvnia (UAH) is issued by the National Bank of Ukraine (NBU). The NBU explains its recent path in its own words: at the outbreak of the full-scale war it fixed the hryvnia's exchange rate and imposed administrative restrictions to prevent panic, and it switched to managed flexibility of the exchange rate in October 2023. It is gradually implementing its Strategy for Easing FX Restrictions, Transitioning to Greater Flexibility of the Exchange Rate, and Returning to Inflation Targeting. Managed flexibility means the rate moves with the market, with the central bank smoothing the moves.
| Item | Ukrainian hryvnia |
|---|---|
| Currency code | UAH |
| Issuer | National Bank of Ukraine |
| Exchange rate regime (NBU wording) | Managed flexibility since October 2023 |
| Wartime rules | NBU Resolution No. 18 of 24 February 2022, eased by later amendments |
| Goods export deadline | 180 days; 90 days for listed agricultural goods |
| Services export deadline | None, except transportation, since January 2026 |
| Interbank system | NBU System of Electronic Payments (SEP) |
Sources: NBU, FX restrictions and exchange rate policy; NBU, System of Electronic Payments; PwC Ukraine (19 January 2026). Checked on 29 October 2026.
Ukrainian currency rules that shape your payment
Ukraine's Currency Law, No. 2473-VIII of 2018, set the framework, and since February 2022 NBU Board Resolution No. 18, On the Operation of the Banking System Under Martial Law, has added wartime restrictions. The NBU has eased them in steps, and rules change often, so confirm each point with the supplier's bank. For a foreign buyer, four rules matter:
- Settlement deadlines for goods. Goods exports carry a 180-day settlement deadline under Resolution No. 18, which the Ukrainian bank servicing the contract supervises. For listed agricultural goods such as wheat, corn, barley and sunflower seeds, the deadline was cut to 90 days from 11 November 2023, as reported by the American Chamber of Commerce in Ukraine.
- Foreign currency closes the file. From 21 February 2024, a bank may end supervision on the credit of funds from a non-resident only if the funds arrive in foreign currency, not hryvnia. A hryvnia payment for goods can leave the supplier's export open.
- Services are freer. After NBU Resolutions No. 2 and No. 3 of 13 January 2026, all exports of services except transportation are exempt from settlement deadlines, according to PwC Ukraine.
- No forced sale. The NBU scrapped the rule requiring exporters to sell 30% of foreign currency earnings from 20 June 2019.
Our guide to receiving USD in Ukraine covers the supplier's side in full.
How a payment reaches a Ukrainian supplier
A dollar payment reaches a Ukrainian supplier by SWIFT, into a foreign currency account at a Ukrainian bank, through a correspondent bank, usually in New York for US dollars. Hryvnia moves between Ukrainian banks on the NBU's System of Electronic Payments (SEP). Ukrainian accounts use IBAN, the International Bank Account Number, and a company's dollar account has its own IBAN beginning with UA, separate from its hryvnia account.
| Detail | What to use | Why |
|---|---|---|
| Beneficiary name | Supplier's registered name, exactly as on the account | Avoids a query or return |
| IBAN | The IBAN of the USD account, not the hryvnia account | A dollar wire to a hryvnia account is converted on arrival |
| SWIFT code and correspondent | As the supplier's bank gives them | Routes the dollars through the right correspondent |
| Contract number | The foreign economic contract number | Ukrainian banks ask for documentary support for foreign currency receipts |
| Currency | USD or another foreign currency for goods | Lets the bank end export supervision |
Sources: NBU Resolution No. 24 (21 February 2024), as reported by UkrAgroConsult; PrivatBank, Receiving SWIFT transfers. Checked on 29 October 2026.
What converting USD to UAH costs
If you convert dollars to hryvnia yourself, the cost is the mid-market rate, the midpoint between buying and selling prices at that moment, plus your provider's margin, plus its fee. If you pay dollars, the supplier decides whether and when to sell them, and its bank applies its own rate and commission. Ukrainian exporters compare a bank's rate with the NBU's official rate before they sell; you can use the same check on any hryvnia quote you receive. On the wire itself, send with OUR charges so the supplier receives the full invoice amount despite correspondent deductions.
Helm is a financial technology company, not a bank. Its US dollar account services are provided by Bridge Building, Inc. (NMLS ID 2450917), a licensed money transmitter, with customer funds held at Lead Bank. A Helm account holds dollars in your company's own name and sends international payments to suppliers by SWIFT, or by local rails in the supplier's currency where available, with the rate, fee and expected arrival shown before you send.
Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment. See how Helm pricing works.
Pay a Ukrainian supplier in USD or UAH?
- Pay USD for goods. Since February 2024 a bank can end export supervision only when the funds arrive in foreign currency, and the 180-day deadline (90 days for listed farm goods) runs on the supplier.
- Pay USD for most services too. Services other than transportation are now outside settlement deadlines, but a foreign currency receipt remains the simplest record for the supplier's bank.
- Pay UAH only for local costs inside Ukraine that are invoiced in hryvnia, through a provider that pays out locally.
For Ukrainian companies on the buying side, see our guide to paying Chinese suppliers from Ukraine.
Open a Helm account
USD, EUR and GBP accounts in your company's name, with a named account manager.
Open accountQuestions
Is the Ukrainian hryvnia floating?
The NBU fixed the hryvnia at the outbreak of the full-scale war and switched to managed flexibility of the exchange rate in October 2023. It is easing FX restrictions in stages under its published strategy.
How long does a Ukrainian exporter have to receive payment?
Goods exports carry a 180-day settlement deadline under NBU Resolution No. 18 of 24 February 2022, and 90 days for listed agricultural goods from 11 November 2023. Services other than transportation have been exempt since January 2026.
Should I pay a Ukrainian supplier in hryvnia?
Usually not for goods. From 21 February 2024 a bank may end supervision on funds from a non-resident only if they arrive in foreign currency, not hryvnia, so pay the supplier's USD account.
Does a Ukrainian exporter have to sell the dollars?
No. The NBU scrapped the rule requiring exporters to sell 30% of foreign currency earnings from 20 June 2019.
What details do I need to pay a Ukrainian supplier?
The supplier's registered name, the IBAN of its USD account, the bank's SWIFT code and correspondent, and the contract number, which Ukrainian banks use to match foreign currency receipts.
What does Helm charge to pay a supplier in Ukraine?
Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment.
References
- National Bank of Ukraine: FX restrictions and exchange rate policy
- National Bank of Ukraine: System of Electronic Payments
- PwC Ukraine: The NBU continues easing currency restrictions (19 January 2026)
- American Chamber of Commerce in Ukraine: settlement period for listed agricultural exports reduced to 90 days (14 November 2023)
- UkrAgroConsult: NBU Resolution No. 24 of 20 February 2024
- PrivatBank: Receiving SWIFT transfers
- UNIAN: Ukraine's central bank scraps exporters' obligatory forex sales (19 June 2019)
This guide is general information for businesses, not financial, legal or tax advice. Rules, fees and timings were checked against the sources listed on the review date and may change.