Polish central bank’s programme to allow Ukrainians to convert cash to start on Friday

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FILE PHOTO: Ukrainian hryvnia banknotes are seen in a photo illustration shot in Kiev, Ukraine

WARSAW – Poland’s central bank signed an agreement with the National Bank of Ukraine that will allow every adult Ukrainian refugee to convert up to 10,000 hryvnias ($341.88) to Polish zloty starting from March 25, it said on Monday.

“The exchange will be possible at a rounded, official … exchange rate,” the bank said in a statement.

Last week the bank said it was cooperating with the country’s largest lender, PKO BP, to allow refugees who have fled Ukraine for Poland to convert hryvnia.

Many refugees are struggling to buy even basic necessities because their savings in hryvnia are non-convertible across most of Europe, meaning they have no way to exchange them at reasonable rates.

($1 = 29.2500 hryvnias)

(Reporting by Anna Koper; Editing by Chris Reese)