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Ukrainian refugees in Belgium have exchanged 300,000’s euro-worth of Ukrainian hryvnias

Ukrainian refugees have exchanged nearly 300,000’s worth of Ukrainian cash at the National Bank of Belgium. Since June 1, Ukrainian hryvnias have been able to be exchanged for euros in Belgium at both the National Bank and some commercial banks. However, this service is now being discontinued. According to the Central Bank of Ukraine, refugees have had enough time to exchange their cash.

As a precaution, many Ukrainians had withdrawn cash prior leaving their country. However, they were not able exchange their currency for euro anywhere once they were in the European Union. Belgium was one of the first member states, after Poland, to allow the exchange a limited amount of Ukrainian hryvnia (10,000 hryvnia per person, which is around 250 euro) for euro. This was made possible thanks to an agreement between the National Bank of Belgium (BNB) and the National Bank of Ukraine.

Geert Sciot of the National Bank of Belgium told journalists that "Between 1 June and today, the equivalent of 300,000 euros has been exchanged free of charge at the National Bank and at branches of the participating commercial banks."

"A lot of money was exchanged during the first few months, but there have only been a few transactions during the last few months.”

The Central Bank of Ukraine believes that refugees have now had enough time to exchange their cash.

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