Schweizerische Nationalbank: The Confederation and the SNB facilitate the exchange of Ukrainian currency in Swiss commercial banks


Press release

Communication

PO Box, CH-8022 Zurich Telephone +41 58 631 00 00 [email protected]

Zurich, Bern, June 22, 2022

The Confederation and the SNB facilitate the exchange of Ukrainian currency in Swiss commercial banks

Together with the Federal Department of Finance (FDF) and Swiss commercial banks, the SNB has developed a solution allowing people with protection status S to exchange Ukrainian banknotes for Swiss francs up to a limited amount.

From June 27, 2022, adults with protection status S will be able to make a one-time exchange of up to 10,000 UAH at selected UBS and Credit Suisse branches. This currently corresponds to a value of approximately CHF 300. The exchange rate will be set by the National Bank of Ukraine (NBU).

At its meeting on June 22, 2022, the Federal Council approved a corresponding proposal for the exchange of cash. The SNB takes care of the operational implementation of the exchange on behalf of the Confederation; to this end, it has entered into appropriate agreements with the Confederation, commercial banks and the NBU.

The solution is based on programs recommended by the European Union and already implemented in a number of Member States, including Germany, Sweden, the Netherlands, Belgium and Italy in recent years. weeks.

Cashless payment transactions to and from Ukraine continue to be insured. With the exchange of cash, Switzerland supplements the basic social care provided so far to Ukrainian refugees.

The exchange can only be made at certain UBS and Credit Suisse branches; it is not possible to change the Ukrainian hryvnia at SNB counters or branches.

The Confederation’s press release on this subject is available here.

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Disclaimer

SNB – Swiss National Bank published this content on June 22, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on June 22, 2022 11:04:10 AM UTC.

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