In Belgian banks, hryvnias will be exchanged for euros/Flickr
In Belgium, from June 1, Ukrainian refugees will be able to exchange hryvnia for euros. The service will be available in a number of banks in the country.
The exchange of hryvnia for euro became possible thanks to an agreement between the National Banks of Belgium and Ukraine. This is stated in a press release of the Belgian National Bank.
In Belgium, hryvnia will be exchanged for euro
With the assistance of the federal government of Belgium, from June 1, Ukrainian refugees will be able to exchange hryvnias for euros at the following banks:
- at the cash desk of the National Bank;
- Belfius;
- Beobank;
- BNP Paribas Fortis;
- CBC;
- ING;
- KBC;
- KBC Brussels.
According to the recommendation of the European Commission, approved in April, Ukrainians will be able to exchange a maximum of 10,000 hryvnia (316 euros) per person without fees and commissions. The National Bank was instructed by the Federal Council of Ministers to start operations in hryvnia on May 20. The NBB acts on behalf of the state and cooperates with the advisers of the Belgian financial sector federation Febelfin.
We consider it our humanitarian duty to offer this service to refugees, and therefore we are pleased that, thanks to our efforts, it may be available in our country,” said NBB director Tim Germans.
Please note!Belgium has become the second EU member state to offer Ukrainian refugees the freedom to exchange hryvnias for euros. The country expects many other states to follow suit.
Before the war, hryvnia was not exchanged in Europe
Before the full-scale war with Russia, the Ukrainian hryvnia was limited, that is, banks and currency exchanges did not transport or exchange these types of banknotes. After the invasion, this proved to be a problem.
After all, Ukrainians, forced to flee the country from the attacks of the invaders, often did not have time to deposit cash into their bank accounts and came to Europe with hryvnias. There they understood that they could not buy anything with this money, because no one exchanged them.
However, now Ukrainian refugees can exchange their national currency, and, finally, they will have access to cash. Febelfin CEO Karel Baert says this is the right move for the Belgian banking sector.
“After providing bank accounts to Ukrainian refugees, this is yet another example of what banks are doing to help,” said Baert.
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To open a bank account in Belgium, to which Ukrainians can receive wages or send money, they only need a Temporary Protection Certificate.
“We would like to thank the Minister of Finance and the National Bank of Belgium for their cooperation with us to make it all possible. This once again demonstrates that a lot can be achieved through joint efforts,” said the head of Febelfin.
Currently, there are about 78,000 Ukrainian refugees in Belgium. This figure is expected to increase significantly if the war continues.
