Currency exchange should only be carried out in official institutions
Due to the high demand for convertible currency, caused by the unstable state of the Ukrainian economy, the opportunity to obtain a prestigious education in a developed country, or a well-paid job in Poland, the Czech Republic, or Italy, sometimes one has to visit not one but several branches of banking institutions or financial companies to buy euros. And students traveling to England for the first time face the question of where currency exchange for pounds sterling is carried out, and how not to fall for scammers.
You can buy US dollars, Polish zloty, or euros by debiting funds in hryvnia from your current account and crediting them to a foreign currency account at the established rate. You can use internet banking for this, but the allowed amount for exchange is only 150,000 UAH per day.
If a person wants to deposit dollars into a deposit or accumulate currency at home to buy an apartment or a car, it is worth waiting for a better exchange rate. For example, experts advise against buying euros and dollars on Monday and Friday, when the financial market has not yet recovered after the weekend or is preparing for the next non-working days.
It is convenient to monitor the buying and selling rates not only of euros but also of Turkish lira, Czech crowns, Chinese yuan on aggregator websites. Bankchart.com.ua updates information on currency exchange daily.
The restrictions set by the National Bank of Ukraine do not apply on the black market, and selling dollars is also attractive due to the price. Most often, hard currency exchange is carried out through auctions, via the internet, or using bulletin boards. People use black market services if euros and pounds are not available in bank branches, but such exchange is illegal and exposes them to danger.
To avoid receiving counterfeit dollars, which are 29 times more expensive than hryvnia, you should not meet on the street with a person offering to exchange currency, but go to a bank teller or a financial company where you can check whether the bills are genuine. And the money received should be carefully counted. If the exchange amount exceeds five hundred dollars, it is advisable to take a relative or friend with you to the branch; this will help avoid unpleasant surprises.
You can also exchange currency at a favorable rate using special services, one of which is https://obmenka.cn.ua/ua. When a person is going to work or on a romantic trip to Italy, Slovakia, France, it is better to buy euros for necessary expenses in Ukraine. Dollars are recommended to be taken on trips to exotic islands – the Seychelles, Bali, Maldives. In Turkey, Egypt, hryvnia is exchanged for local currency, dollars, and euros.
Also, before crossing the border, you should count the funds being taken out. If the amount of cash reaches 10,000 euros, to avoid a fine, you need to fill out a customs declaration.