Banknote of UAH 1,000 denominationSource: National Bank of Ukraine,
KYIV. UkraineGate , 30 , May , 2022 | Economy.
According to the agreement between the National Banks of Belgium and Ukraine, Ukrainian refugees will be able to exchange hryvnia banknotes for euros in Belgium, according to a press release from the National Bank of Belgium (NBB) .
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From June 1, Ukrainian refugees registered in Belgium can exchange hryvnia banknotes for euros at the National Bank’s cash desks and at branches of participating banks such as Belfius, Beobank, BNP Paribas Fortis, CBC, ING, KBC and KBC Brussels.
As clearly stated in the recommendation of the European Commission, a maximum of 10,000 hryvnias can be exchanged for one adult.
The exchange of hryvnia banknotes in Belgium was made possible by negotiations between the National Bank of Belgium (NBB) and the National Bank of Ukraine (NBU), which resulted in a legal agreement setting out, among other things, logistics measures and the exchange rate.
On May 20, the bank was instructed by the Federal Council of Ministers to start operations in hryvnia. The NLB works on behalf of the Belgian state and cooperates with Febelfin advisers.
After Poland and Germany, Belgium was one of the first EU member states to offer a service that allows Ukrainian refugees to exchange their national banknotes for euros. Many other countries are expected to follow suit.
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“We consider it our humanitarian duty to offer this service to refugees, and we are glad that, thanks to our efforts, this service can be made available in our country,” said NBB Director Tim Hermans.
Before the war, the Ukrainian currency, the hryvnia, was limited, meaning that banks and currency exchanges did not transport or exchange such types of banknotes.
Source: Ukrgate