Our exchange rate in Ukraine

Wise
04.03.22
1 minute read

We want to continue providing service to Ukraine for as long as we possibly can. That’s why we’re temporarily changing how we calculate the exchange rate for sending money to Ukraine — and we want to be transparent about why.

What’s changing?

We’re temporarily using the exchange rate set by the National Bank of Ukraine to calculate the rate for transfers to Ukraine. Here’s what that means:

  • When you transfer USD to UAH, we’ll use the exchange rate set by the National Bank of Ukraine.
  • When you transfer money from a different currency (for example EUR or GBP), we'll determine the equivalent value in USD using the mid-market rate set by Reuters or XE. Then, we’ll use the exchange rate set by the National Bank of Ukraine to convert that amount to UAH.

Because of this, we unfortunately won’t be able to guarantee the rate of your transfer.

Why are we doing this?

Exchange rates are volatile right now. Recently, our sources to determine the mid-market rate, such as Reuters or XE, have become inaccurate. To stabilise the market, the Central Bank of Ukraine has decided to set a fixed rate for currency transactions.

Changing the way we calculate the rate allows us to continue providing our service to send money to Ukraine.

We’re monitoring the market and will share updates if this changes.

Wise is the smart, new way to send money abroad.

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