Currency exchange in BANK “CLEARING HOUSE”
Currency exchange services are among the most popular financial transactions provided to our clients. We always offer the best rates, and perform transactions quickly and easily.
Main currency exchange services
- Buying and selling currency in the MyBank365 mobile app. You can buy or sell dollars, euros or other currencies at the current exchange rate. Exchange rates sometimes change even during the day, but we try to always be the best for our clients.
- Cash transactions with currency. In our branches, you can exchange cash foreign currencies for hryvnia and vice versa. You can also withdraw or deposit foreign currency to the appropriate accounts.
- Currency deposits. We offer the opportunity to open deposits in US dollars and euros, which will allow you to buy currency at a favourable rate and earn interest income in the currency of deposit.
- International transfers. We also provide international money transfer services, so you can send and receive funds in foreign currencies from abroad.
Advantages of using currency exchange services
Advantages of using currency exchange services
Safety
Currency exchange at banks is safer than at individual exchange offices.
Reliability
Banks ensure the accuracy and transparency of transactions.
Competitive rates
We offer favourable exchange rates, especially in the online application.
Current exchange rates
Restrictions and limits on foreign exchange purchase and sale services
Currently, there are several major restrictions on foreign exchange transactions for individuals in Ukraine.
1. Cash withdrawal
- In Ukraine: up to UAH 100,000 per account per day.
- Abroad: up to UAH 12,500 in the equivalent every 7 calendar days from hryvnia accounts.
- From foreign currency accounts: up to UAH 100,000 in equivalent per day.
2. Purchase of foreign currency (limits are cumulative)
- Up to UAH 50,000 in equivalent per month on a current account and/or cash withdrawal.
- Up to UAH 200,000 in the equivalent per month, for placement on a deposit for a period of 3 months or more.
3. SWIFT-transfers
- Transfers abroad are only possible to pay for education or medical treatment in foreign countries.
What determines the exchange rate in a bank
The exchange rate at the bank depends on many factors, here are the main ones:
1. Current situation in a particular bank
- Bank liquidity. The liquidity position of a particular bank can affect the rate it offers. If a bank offers a favourable rate, it may be a sign of its greater liquidity.
2. Supply and demand
- Local market. As a rule, the exchange rate rises when there is a high demand for currency, and decreases when there is a surplus. For example, when the tourist season starts.
- International market. Economic changes in major countries (the US or the EU) increase or decrease global demand for the dollar or the euro, and this is reflected in the exchange rates of these currencies and their dependent currencies.
3. Actions of the National Bank of Ukraine (NBU)
- Discount rate. An increase in this number could lead to a strengthening of the national currency, as investors will look for more favourable investment conditions.
- Buying or selling currency. To manage and maintain the exchange rate, the NBU enters the market and buys or sells currency.
4. Economic indicators
- Inflation. The higher the inflation, the higher the hryvnia exchange rate against foreign currencies.
- GDP. Growth in gross domestic product (GDP) means economic growth, which in turn strengthens the hryvnia.
There are a number of other indicators, such as the unemployment rate, that directly or indirectly affect the exchange rate.
5. Political situation
- Political stability. Politically stable countries tend to have stronger currencies. In countries in crisis, on the contrary, the currency depreciates.
- Military conflicts. The war definitely has a negative impact on the hryvnia exchange rate.
6. International events
- The world's important resources. Ukraine imports energy resources, so changes in price fluctuations may affect the national currency.
- Financial crises. Crises or global financial developments and events have a significant and sometimes unpredictable impact on exchange rate fluctuations.
7. Speculative actions
- For example, the Forex market. Large-scale currency speculation has a corresponding impact on the exchange rate, causing it to rise or fall.
Understanding these factors will help you to better navigate the foreign exchange market, or you just need to be our client and you will always receive the latest information and TOP exchange rates.
