NBU returns all cash hryvnia exchanged by European central banks in 2022

The National Bank of Ukraine, together with the Narodowy Bank Polski, has completed a project to return cash hryvnia, which was exchanged abroad by forced Ukrainian immigrants.

This is stated in the NBU message, Ukrainian News Agency reports.

At the end of November, the NBU received all the cash hryvnia exchanged during 2022 by European central banks.

It is noted that in 2022, the NBU concluded agreements with the central banks of Poland, Switzerland, Belgium, Latvia, Germany, Italy, Lithuania, Malta, Sweden, the Netherlands, which provided for the possibility of exchanging cash hryvnia for local currency for Ukrainian citizens who were forced to leave their homes due to the beginning of a large-scale invasion of the russian federation.

According to these agreements, after the completion of exchange operations, the NBU repurchased the cash hryvnia received by the central banks, the total amount of which was UAH 970,164,300.

The Narodowy Bank Polski has become the main hub to accumulate cash hryvnia, the exchange of which was carried out in all ten European states, before returning it to Ukraine.

As Ukrainian News Agency earlier reported, the National Bank of Ukraine has relaxed a number of currency restrictions in order to improve the work of the cash segment of the foreign exchange market.

So, from September 16, during the calculation of the amount of cash foreign currency that a bank or a non-bank financial institution has the opportunity to sell on the foreign exchange market, the balances of cash foreign currency that was accounted for in the cash desk of these institutions as of April 13, 2022 will be taken into account.