EU Council has agreed to exchange hryvnias for EU currencies for refugees at official exchange rate
The Permanent Representatives Committee endorsed the EU Council's recommendation to convert hryvnia banknotes into Member States' currency to support refugees who have difficulty exchanging their banknotes for EU currency.
As reported by Censor.NET, this is noted in the Council of Europe.
"These decisions will allow migrants from Ukraine, including children, to exchange up to 10,000 hryvnias (approximately 310 euros) per person. It will be free and at the official rate published by the National Bank of Ukraine. This decision has been implemented for at least three months," it said. in the message.
The recommendation will now be formally adopted by the Council in writing. The approximate date of adoption is April 19. Recommendations are not legally binding acts. Thus, the actual implementation and creation of schemes must be decided by the Member States in accordance with their national rules. A number of EU countries have already developed national mechanisms for this purpose.
According to the report, due to Russian military aggression, the National Bank of Ukraine was forced to suspend the exchange of hryvnia banknotes for foreign currency to protect the country's limited foreign exchange reserves. This affected the convertibility of hryvnia banknotes in EU countries, where many banks were reluctant to exchange hryvnia due to currency risks. Since Russia's invasion of Ukraine, more than 4 million people have fled the war to the EU.
"More than four million people have fled the war since the Russian invasion of Ukraine. Member States will continue to show their strong support for Ukraine and its citizens in the face of this unprecedented act of aggression by Russia. They are providing humanitarian aid and temporary protection, including access to their labor, housing, health and education markets. The recommendation complements these efforts, "the Council of the EU said.
