Ukraine: Federal Council permits the exchange of cash for people seeking protection
Bern, 22.06.2022 - From 27 June 2022, people with Protection Status 'S' will be able to exchange a limited amount of Ukrainian banknotes for Swiss francs in a one-off transaction at selected bank branches. The Federal Council approved a cash exchange solution during its meeting on 22 June 2022.
The Federal Council instructed the Federal Department of Finance (FDF) to work in close consultation with the Swiss National Bank (SNB) to draw up a proposal on how Ukrainian refugees in Switzerland can exchange Ukrainian cash for Swiss francs. It has now approved the proposed solution and decided, in collaboration with the SNB and participating Swiss commercial banks, to permit the exchange of cash. From 27 June 2022, adults with Protection Status 'S' may exchange one amount of up to 10,000 hryvnia at selected branches of UBS and Credit Suisse. This is currently equivalent to around CHF 300. The exchange rate is set by the National Bank of Ukraine.
The solution is similar to the programmes which have been proposed by the European Union and are already implemented in some member states such as Germany, Italy, Sweden, the Netherlands and Belgium.
Cashless payments to and from Ukraine are ensured and, by permitting the exchange of cash, Switzerland is expanding the existing basic provision for Ukrainian people seeking protection.
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