Refugees with a special legal status will be able to exchange a limited number of Ukrainian banknotes for Swiss francs.
This content was published on June 22, 2022 – 15:58
The Swiss government announced on Wednesday that adults with Protection S status can exchange up to 10,000 hryvnia – the equivalent of 300 CHF ($310.50) at selected branches of the two major Swiss banks, UBS and Credit Suisse.
The regulations are due to come into force next Monday, according to the Secretary of State for International Finance.External link.
The plan to enable the exchange of cash was agreed between the Ministry of Finance, the Swiss National BankExternal link and the two main commercial banks.
A similar program has been proposed by the European Union and has already been implemented in Germany, the Netherlands, Italy, Sweden and Belgium.
Nearly 56,000 Ukrainians have fled to Switzerland since February and Swiss banks have often refused to convert the money they bring with them into Swiss francs.
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