The National Bank of Moldova has launched consultations with Ukrainian authorities to find solutions for the refugees looking to change hryvnias in Moldova.

Today commercial banks and separate foreign exchange desks in Moldova were buying hryvnias for as little as 0.01 leu, to the dismay of the thousands of Ukrainian refugees running for their lives from the war that started on Thursday in the neighboring country.

The Bank said in reaction that it has taken increased steps to supervise foreign exchange operations, adding however that operators are free by law to set both buying and selling rates as they see fit.

The Bank said it will involve licensed banks in finding a solution, one where the poorly convertible currency is rapidly bought back by Ukraine.

The Bank also urged operators to show “understanding and compassion” to the Ukrainian refugees “in these difficult times”.