Ukrainians in Germany will be able to exchange cash hryvnia for euro – NBU

From May 24, 2022, Ukrainians who were forced to leave Ukraine due to the war and are in Germany will be able to exchange cash Ukrainian hryvnia for euros.

According to Ukrinform, this was reported by the press service of the National Bank of Ukraine.

“So, every adult citizen of Ukraine will be able to exchange up to 10,000 hryvnias for euros in cash. Banknotes from 100 to 1,000 hryvnias will be accepted (banknotes of lower denominations and coins will not be subject to exchange),” the message says.

The corresponding agreement was signed by the National Bank of Ukraine, the Federal Bank of Germany and the German Ministry of Finance on May 17.

“Thanks to the agreement that we have concluded with the Federal Bank of Germany and the German Ministry of Finance, Ukrainians will be able to exchange their cash hryvnia in German credit institutions. We are grateful to our German colleagues for their support and assistance to our internally displaced persons in such an important issue,” the deputy said. Head of the National Bank of Ukraine Serhiy Nikolaychuk.

He added that the National Bank stands on the protection of the financial defense of Ukraine and considers one of the priority tasks in its work during martial law to provide Ukrainians with the opportunity to freely pay to meet their vital needs.

As reported, since March 25, Ukrainians have the opportunity to exchange up to 10,000 hryvnias in cash per person for Polish zlotys. Using this mechanism, the National Bank of Ukraine has already bought almost half a billion hryvnias from the National Bank of Poland.

In addition, the National Bank allowed Ukrainian banks to buy hryvnia in cash from foreign financial institutions for non-cash foreign currency in the amount of up to 1 million euros per day (equivalent). This also contributes to the gradual solution of the problem with the exchange of cash hryvnia by internally displaced persons.

According to information available to the National Bank, a number of banks are already exchanging cash hryvnia abroad for another currency using this mechanism [in particular, Raiffeisen Bank in Austria; Erste Bank Oesterreich – in Austria; OTP Bank – in Moldova and Hungary; Banca Comercială Română – in Romania; Tatra banka (subsidiary bank of the Raiffeisen group) – in Slovakia].

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