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Germany announces currency conversion scheme for Ukrainian refugees

·1 min read

BERLIN, May 23 (Reuters) - Refugees who have fled the war in Ukraine can change their Ukrainian hryvnia into euros in Germany starting Tuesday, according to a statement from the Finance Ministry in Berlin and German banks.

The ministry agreed to the exchange programme together with the central banks of Germany and Ukraine as well as the German Banking Industry Committee, the joint statement said.

The agreed exchange volume has been initially set at 1.5 billion hryvnia ($50.78 million) and the scheme is to stay in place for at least three months, it added.

Under the agreement, refugees can exchange up to 10,000 hryvnia into euros at participating German banks at current exchange rates. The conversion, which can be made in several instalments, is to be free of charge.

Banknotes in denominations of 100, 200, 500 and 1,000 hryvnia from the currently valid series of the National Bank of Ukraine will be accepted, according to the statement. ($1 = 29.5400 hryvnias) (Reporting by Rachel More, Editing by Miranda Murray)