Swiss perspectives in 10 languages

Geldcast update: Ukrainian refugees cannot exchange cash for Swiss francs

Economist Fabio Canetg
swissinfo.ch

Ukrainian refugees who have fled to Switzerland with cash are finding it hard to exchange their hryvnia currency into Swiss francs. In the latest Geldcast podcast, economist Fabio Canetg discusses some of the possible solutions.

The Russian war in Ukraine has forced millions of people to flee; over 20,000 Ukrainian refugees have already been registered in Switzerland. Many of them arrive with little more than a suitcase and some cash.

But the money they have brought with them is effectively worthless for the refugees. This is not because the Ukrainian currency – the hryvnia – is worthless; it is still accepted in Ukraine.

But practically no-one outside Ukraine wants to exchange foreign currency for Ukrainian money, including in Switzerland. Refugees are also unable to spend their cash in Switzerland as banks have refused to exchange the Ukrainian currency for Swiss francs.

Why is that? And what could the Swiss National Bank do to help refugees? Find out more about this issue in the latest Geldcast update podcast.

External Content

From stock exchanges and bitcoin to inflation and monetary policy – the Geldcast update podcast features the latest news and views from the world of international finance. Clear and entertaining for everyone who wants to stay up to date. The podcast is hosted by monetary economist and business journalist Fabio CanetgExternal link.

Subscribe to the Geldcast update in English on YouTubeExternal link. And you can find many more episodes in German on iTunesExternal linkSpotifyExternal link, or wherever you get your podcasts. 

Author Fabio Canetg completed his doctorate in monetary policy at the University of Bern and the Toulouse School of Economics. Today he is a lecturer at the University of Bern.

As a journalist, he works for SRF Arena, Republik Magazin and SWI swissinfo.ch. He hosts the monetary policy podcast “Geldcast”.

More

Popular Stories

Most Discussed

In compliance with the JTI standards

More: SWI swissinfo.ch certified by the Journalism Trust Initiative

You can find an overview of ongoing debates with our journalists here . Please join us!

If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.

SWI swissinfo.ch - a branch of Swiss Broadcasting Corporation SRG SSR

SWI swissinfo.ch - a branch of Swiss Broadcasting Corporation SRG SSR