Ukraine Currency Exchange Updates: Exchange UAH to EUR, USD
Following months of restrictions on financial transactions in Ukraine since February 2022, the National Bank of Ukraine (NBU) has been easing restrictions to allow banks and other institutions to sell foreign currency.
If you are interested in buying euros or converting UAH to US dollars in Ukraine right now, here’s what you need to know.
How to exchange UAH to EUR or USD
The Ukrainian National Bank allows consumers to buy non-cash foreign currency. This means you can exchange Ukrainian hryvnias (UAH) to euros or dollars using your cards or bank accounts.
To do so, you need:
- A bank account or card in foreign currency issued by a Ukrainian bank (PrivatBank, Monobank, Bank PUMB);
- A UAH bank account or card.
To exchange UAH to EUR or USD, use your bank’s digital banking application (like Privat24 for PrivatBank) to make the transaction.
Note that foreign currency operations are currently limited to UAH 50,000 per month and per bank account.
Learn more about Ukrainian banks’ conditions on foreign currency transactions right now:
- PrivatBank foreign currency exchange
- Bank PUMB currency transactions
- Monobank payments from currency accounts
- AcordBank currency accounts
- Bank Credit Dnipro foreign currency exchange
- Sense Bank card sending limits
- MTB Bank digital virtual cards
Converting UAH to USD in Ukraine right now
Certain banks only allow movements of UAH to USD, while others may restrict foreign currency withdrawal at ATMs. You can read more about how to convert UAH to USD and the exchange rates practiced by Ukrainian banks here.
Most banks allow you to use any type of card (plastic or virtual cards) to exchange UAH to USD and opening a new card (in hryvnia or USD) is easy and often free of charge.
Sending money abroad from Ukraine
Sending money abroad from Ukraine is only possible using foreign currency cards (USD, EUR, or others). Transfers from UAH cards are restricted by the NBU.
If you don’t own a foreign currency card, you can get a virtual card from your bank. This only takes a few minutes and most banks (PrivatBank, Monobank, Bank PUMB, etc) can issue you a virtual card in USD or EUR free of charge.
Using your bank's mobile app, add money to your foreign currency card from your UAH card.
You can then transfer USD or EUR abroad using your virtual card. You can use Fin.do to send money abroad from Ukrainian foreign currency cards - in this case, your transfer will be securly delivered in seconds.
Receiving money transfers in Ukraine
Currently, there are no restrictions on receiving foreign currency transfers in Ukraine.
FAQ
What are the benefits of keeping money in foreign currency in Ukraine right now?
A foreign currency deposit can help you protect your savings against inflation and market volatility caused by unforeseen events like the ongoing war in Ukraine. You can also read more here about the different ways to save money in Ukraine right now.
How do I find the best exchange rate for hryvnia?
UAH to USD / EUR exchange rates are no longer fixed by the NBU so you can track the exchange rates and buy foreign currency at the best rates. You can do so by checking your bank’s daily exchange rates, the Minfin mobile app, or online using different exchange sources.
Can I send money abroad from Ukraine with Fin.do?
Yes. You can make transfers from Ukraine to 150+ countries using Ukrainian foreign currency cards. With Fin.do, you can send money from credit, debit, prepaid, and virtual cards. If you don’t own a virtual card in EUR or USD right now, you can open one with your bank and start making international transfers with Fin.do in minutes.
