On 22 June 2022, the NBU and the Swiss National Bank signed an agreement that will allow the Ukrainians staying in Switzerland to exchange cash hryvnias for Swiss francs.
Under the agreement, adult citizens of Ukraine with permission to temporarily stay in Switzerland will be able to exchange their cash hryvnias for Swiss francs at some branches of UBS Switzerland AG and Credit Suisse, effective 27 June 2022.
The agreement enables the exchange of cash hryvnias for Swiss francs within a limit of UAH 10,000 in cash per person. The agreement stipulates that only 100-hryvnia, 200-hryvnia, 500-hryvnia, and 1,000-hryvnia bills will be exchanged (lower denomination banknotes and coins will not be accepted). Significantly worn-out and defective banknotes will not be exchanged.
These transactions will be based on a fixed exchange rate of the hryvnia against the Swiss franc that will be set by the NBU. Exchange rate information will be published weekly on the websites of UBS Switzerland AG and Credit Suisse.
"I am sincerely grateful to my colleagues from the Swiss National Bank for supporting the Ukrainians who left Ukraine as they fled the war. The NBU is in active talks with the central banks of partner countries to enable displaced Ukrainians to exchange cash hryvnias for host country currencies,” said NBU Governor Kyrylo Shevchenko.
As previously reported, the NBU has since the start of the war signed cash hryvnia exchange agreements with Narodowy Bank Polski, Deutsche Bundesbank, the National Bank of Belgium, the Bank of Italy, Sveriges Riksbank, and De Nederlandsche Bank.