What money is used in Ukraine
First of all it is important to know that Ukrainian currency "hryvnia" is used for payments for goods or services in Ukraine. Dollars, euros, rubles, pounds, etc. are not accepted for payment. Most banks in Kyiv and other cities in Ukraine, as well as exchange offices (Obmin Valyut) carry out currency exchange operations. “Rare” currency can be changed in almost every bank.
Where and when to change money and to buy Ukrainian currency
Currency can be exchanged at a bank or exchange office (obmin valyut). Exchange offices are located around the city: at train stations, airports, hotels, large shopping centers and in the city center. It is easy to find an exchange office; usually, a stand with purchase and selling rates is located in a prominent place. In exchange offices this is usually a yellow poster with large numbers. Basically, the rate in all bank branches is almost the same (you can check the exchange rate online - finance.i.ua), but in the evening and at night the banks do not work, the exchange offices are also closed, and the “night” ones can buy currency not at such a favorable exchange rate as during the day. It should be kept in mind that the bank queue at the cash desk can be big within the daytime.
Changing money with individual persons can be dangerous
It is not recommended to change currency with strangers. In some places in Kyiv (train station, major markets, metro stations) there are currency traders. But you risk getting counterfeit bills, an incomplete amount or even no money at all. So it is better to go to official ban or exchange office.
Exchange rate in Ukraine: purchase, sale, bank commission
Usually, 2 courses are indicated for each currency on the board of exchange rates - the purchase rate (usually the first column) and the selling rate. If you sell currency, the bank buys it from you. For example, when exchanging dollars: the purchase rate is 27.0 UAH / USD, the selling rate is 27.5 UAH / USD. Accordingly, when exchanging $ 100 you will receive $ 100 * 27.0 (purchase rate) = 2700 UAH. If you sell foreign currency, usually, there is no bank commission (unless the particular bank has its own rules). When buying a currency in Ukraine, you will have to pay % commission (pension charge).
Currency Exchange Online in Ukraine
In Ukraine, the new law “On currency and currency operations” has come into force in the beginning of 2019. In fact, the law means that the National Bank of Ukraine for the first time in 27 years allowed Ukrainians to use currency freely, to invest abroad and to buy property overseas.
Ukrainians will feel relief immediately. The main advantages are that the currency can be bought online and transferred abroad without unnecessary bureaucracy. Now everyday people can buy online dollars or euros in an amount equivalent to 150 thousand hryvnias ($5,3 thousand). Amounts below this limit will not be monitored.
Cash withdrawal using a plastic card
Almost everywhere in Kyiv and in big cities of Ukraine it is possible to pay with cards. But if you need some cash, you can withdraw the required amount in Ukrainian hryvnias from a credit card with the help of a bank terminal (ATM). In Ukraine ATMs give you hryvnia, even if the account is in a foreign bank. At the Boryspil and Kyiv-Zhuliany airports, at the railway station, in hotels, shops and just in the crowded places in Kyiv there are ATMs that work around-the-clock.
Going to Ukraine you can be sure that this is up-to-date European country convenient to travel in and to make any legal money transactions.
Photos: depositphotos.com
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