Ukrainian citizens who fled to Latvia after Russia’s full-scale invasion will be able to exchange cash hryvnias into euros with no additional fees or costs, the National Bank of Ukraine (NBU) said in a message on its website on Sep. 1.
Ukrainian and Latvian central reached the corresponding agreement that comes into force on Sep. 5, and includes designated branches of AS Industra Bank and AS Rietumu Banka across six Latvian cities.
All registered Ukrainian refuges are eligible to use the service, and are able to exchange up to UAH 10,000 ($270) in cash, per person. NBU’s message cautions, however, that notes below UAH 100 ($2.70) in value won’t be accepted. Neither will coins or worn or damaged notes.
The exchange rate will be fixed by the NBU on a weekly basis, and will be displayed on the websites of Latvia’s central bank and participating partner banks.
The Latvian banks are not to charge any additional fees for the exchange service.