The European Central Bank is reported to be seeking a guarantee from member states so as to convert the Ukrainian hryvnia held by refugees into euros (“EU struggles to ease refugees’ cash crunch”, Report, March 23). Surely they could use the blocked Russian foreign exchange reserves to accomplish this objective. The reserves could be exchanged at rates before the war and at the end of hostilities the hryvnia balance could even be restituted to the Russian central bank.
MJ Russell
Valletta, Malta
https://www.ft.com/content/ecd784c1-aab4-4afa-9bf7-fe6b9ce3598a
2022-03-24 00:00:12Z
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