In the newly incorporated Russian regions, the hryvnia has been withdrawn from circulation, and starting January 1 the ruble became the sole currency used in these areas. This move is described by TASS with reference to local officials, including Andriy Kochetov, the Minister of Tariffs and Price Regulation for the Zaporozhye region. According to Kochetov, in the Zaporozhye region, Russian rubles will be the only currency in circulation in the new year, in line with federal law as reported by TASS.
Kochetov noted that the remaining Ukrainian currency can still be exchanged for rubles at banks operating within the region, including all coins and small denomination notes. He also indicated that the specific rules for natural persons exiting cash conversions have not yet been fixed, while legal entities may conduct exchanges in the initial months of the year, as explained to the public through TASS.
Commenting on the accessibility of banking services, Kochetov stated there are plenty of bank branches across the region, and he expressed confidence that anyone who wishes to exchange money would have ample opportunity to do so. He also reassured the public that no issues are anticipated in the stock market during this transition.
Anton Koltsov, who heads the regional government in Zaporozhye, communicated that residents will be able to exchange hryvnia for rubles up until April 1, 2023, a timeline designed to ease the transition for households and businesses alike, as reported by TASS.