PrivatBank will not conduct currency exchange operations in branches until the resumption of international air traffic.
State “PrivatBank” since March 18 stops currency exchange operations in branches. It will be possible to exchange the hryvnia to foreign currency in the Privat24 application, on the Privat24 website and through a network of self-service terminals.
“The priority of foreign exchange transactions online is introduced for the safety of customers during the period of quarantine measures against coronavirus and until the restoration of international air traffic and the supply of currency notes to Ukraine from abroad. Cash currency at the PrivatBank cash desks will be able to receive currency deposits without restrictions, the validity of which completed by pre-order, “it was informed.
In “PrivatBank” they added that operations with cash hryvnia both at the bank cash desks and at the ATM network are carried out as usual.
The fact that banks in Ukraine are experiencing difficulties with cash currency was announced the day before by the first deputy head of the National Bank, Yekaterina Rozhkova. According to her, earlier commercial banks imported cash dollars from abroad on scheduled airplanes, but due to the cancellation of flights around the world due to the NBU coronavirus pandemic, commercial banks have to “establish another system for the delivery of dollars to Ukraine.”
Increased demand for currency in Ukraine has been observed since March 10. The Ukrainian hryvnia against the backdrop of a record drop in world oil prices, as well as panic in the stock markets in connection with the pandemic, began to get cheaper, and the National Bank began to actively conduct foreign exchange interventions in the interbank market to smooth out fluctuations in the exchange rate. This, in turn, provoked an increased demand for currency in the cash market.