Cooperation between Latvijas Banka (the central bank of Latvia) and the National Bank of Ukraine, as well as involvement of AS Industra Bank (https://industra.finance/en) and AS Rietumu Banka (https://www.rietumu.com/en/person) has resulted in meeting the needs of Ukrainian refugees staying on the territory of the Republic of Latvia in terms of the exchange of Ukrainian hryvnia (UAH) to euro (EUR). This opportunity will be made available in the near future.
The currency exchange will be carried out in the designated branches of AS Industra Bank in Riga and four Latvian cities (https://industra.finance/en/bank/contacts-and-details), as well as in AS Rietumu Banka in Riga (https://www.rietumu.com/en/about-bank/bank-details).
No fees or commission will be charged for the currency exchange. Information on the exact date on which the exchange begins will be provided on the websites of Latvijas Banka, AS Industra Bank and AS Rietumu banka.
The following rules will be applied to the exchange of UAH denominated cash to EUR:
- only banknotes with the following face value will be exchanged: UAH 100, 200, 500 and 1000;
- badly damaged banknotes will not be exchanged;
- the maximum amount that can be exchanged by one Ukrainian refugee is UAH 10 000;
- all Ukrainian refugees who are registered in Latvia are entitled to exchange hryvnia;
- the exchange rate is established by the National Bank of Ukraine (the exchange rate is revised once a week and is published on the website of Latvijas Banka – bank.lv/en/).
All hryvnias exchanged by AS Industra Bank and AS Rietumu Banka will be resold to Latvijas Banka, which in turn will exchange them to euro at the National Bank of Ukraine. The exchange rate fixed by the National Bank of Ukraine will be used in these operations and thus none of the parties involved will profit from these operations.