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17 Oct 2022

Ukraine

Exchange scheme hryvnia-to-euro to expire on 30 October 2022

The Federal Ministry of Finance and the Deutsche Bundesbank have agreed with the National Bank of Ukraine to let the hryvnia-to-euro exchange scheme expire. The scheme was introduced in order to help refugees from Ukraine. Take-up was initially high but has since declined sharply, and the number of transactions is now very low. The German Banking Industry Committee (Deutsche Kreditwirtschaft) and its participating banks and savings banks will accept and exchange hryvnia until 30 October 2022 at the latest, depending on their respective opening times. In most cases, the last banking day for exchanges will be 28 October 2022.