Switzerland to Discontinue Exchange of Ukrainian Banknotes for Swiss Francs From Nov.25

The Swiss authorities have announced that starting from November 25 Ukrainians will no longer be able to exchange Ukrainian banknotes for Swiss francs since such an arrangement will be discontinued.

Ukrainians were permitted to change their country’s banknotes at selected branches in Switzerland since the end of June 2022. However, following the request of the National Bank of Ukraine, Swiss authorities decided to put an end to the agreement, SchengenVisaInfo.com reports.

“The arrangement for exchanging Ukrainian banknotes for Swiss francs at selected bank branches in Switzerland, which was introduced at the end of June 2022, will be discontinued with effect from 25 November 2022 at the request of the National Bank of Ukraine,” the statement of the Swiss Federal Department of Finance reads.

According to the Federal Department of Finance of Switzerland, since June 27, 2022, all nationals of Ukraine who had Protection Status S were able to exchange a limited amount of money for Swiss francs.

This specific arrangement to exchange a maximum of about CHF 300 was in accordance with an agreement between the Swiss National Bank and the National Bank of Ukraine.

Explaining the request to discontinue such an arrangement, the National Bank of Ukraine said that the demand to exchange Ukrainian banknotes for Swiss francs has significantly decreased in recent weeks.

Regarding cashless payments from and to Ukraine, the Federal Department of Finance of Switzerland stressed that they continue to be ensured.

Previously, SchengenVisaInfo.com reported that Switzerland had decided to extend the temporary protection directive for refugees from Ukraine until March 4, 2024.

The Swiss Federal Council said that the authorities decided to take such a decision since the situation in Ukraine is unlikely to improve anytime soon and the same emphasised that temporary protection will be provided to Ukrainians as long as they are exposed to danger.

In addition to extending the temporary protection directive for nationals of Ukraine, the authorities of Switzerland highlighted that the support measures for those who have such protection will also be extended for another year.

According to the Federal Council of Switzerland, more than 67,000 Ukrainians have received temporary protection since March 2022. Moreover, the same pointed out that over 6,390 Ukrainians had permanently left Switzerland at the end of October 2022.

As for the overall figures, the UN Refugee Agency reveals that until November 15 a total of 7,841,359 Ukrainian refugees were recorded across Europe. Another 4,725,612 Ukrainian refugees have registered for temporary protection in Europe until November 15.

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