Ukraine: Cash exchange to be discontinued in Switzerland

Bern, 18.11.2022 – The arrangement for exchanging Ukrainian banknotes for Swiss francs at selected bank branches in Switzerland, which was introduced at the end of June 2022, will be discontinued with effect from November 25, 2022 at the request of the National Bank of Ukraine.

Since June 27, 2022, people with Protection Status ‘S’ have been able to exchange a limited amount of Ukrainian banknotes for Swiss francs in a one-off transaction at selected bank branches in Switzerland. This arrangement to exchange a maximum of around CHF 300 was based on an agreement between the National Bank of Ukraine (NBU) and the Swiss National Bank (SNB). The NBU has now requested that the exchange arrangement be discontinued.

The reason for the discontinuation by the NBU is that demand for the arrangement has been very low in recent weeks. Cashless payments to and from Ukraine continue to be ensured.