Ukrainians have the opportunity to utilize the procedure known as “currency buyback,” which allows for the return of recently exchanged foreign currency, such as US dollars, by exchanging them back for hryvnias. This procedure is regulated by the rules of the National Bank of Ukraine and is permitted only during a clearly defined period.
This is reported by Finway
Conditions for Conducting Currency Buyback
The National Bank’s rules stipulate that the buyback of foreign currency is only possible within 15 minutes of the initial transaction. To carry out such a transaction, it is necessary to provide a document that confirms the right to a buyback, including:
- receipt;
- payment document.
“You can conduct a currency buyback operation within 15 minutes after the exchange. But only if you have a receipt or payment document. This is stipulated in the NBU Board Resolution No. 2 ‘On Approval of the Regulation on Currency Operations’,” the statement reads.
Tips for Safe Currency Exchange
The National Bank emphasizes the importance of caution during currency exchange operations, especially when purchasing foreign currency. Counterfeit banknotes are confiscated without compensation, so even if a counterfeit is detected, the money spent on its purchase is not refunded.
Experts advise conducting currency exchanges only at licensed exchange points that have the National Bank’s permission – these can be official exchange offices of banks or non-bank financial institutions. It is not recommended to conduct exchanges “in hand” or through online platforms to avoid the risk of receiving counterfeit banknotes.