Zlotys, kronor, and pounds. Does it make sense to invest in foreign currencies other than the dollar and the euro?

The idea of diversifying your currency portfolio sounds attractive. Especially when the dollar and euro are experiencing instability. But is it realistic for Ukrainians to earn money by investing in "exotic" currencies such as zlotys, forints or Swedish kronor?

Experts warn that despite the possibility of opening accounts in a number of currencies, investing in them is more theory than practice.

What foreign currencies do Ukrainians buy

In response to a request from LIGA.net , the National Bank reported that the total share of other currencies in terms of purchases and sales is only 2.5%.

For example, in the entire year of 2024, purchases by individuals of foreign currencies other than the dollar and euro accounted for only 2.43%.

The Polish zloty was in first place – 1.45% ($377.4 million in equivalent), the pound sterling was in second place – 0.35% ($90.86 million), and the Czech koruna was in third place – 0.31% ($79.2 million).

In 2025, the situation remains the same. Other currencies accounted for only 2.59% of the total purchase volume. For comparison: 71.5% is the dollar, and 25.91% is the euro.

In terms of currency sales, other foreign currencies accounted for 4.18% in 2024 (3.85% in 2025). However, the top three remain unchanged: Polish zloty – 2.56% ($382 million in equivalent), Czech koruna – 0.54% ($81 million), pound sterling – 0.53% ($79 million).

Where to buy exotic foreign currencies

Ukrainian banks independently select the list of currencies with which they conduct cash purchase and sale transactions based on customer demand for transactions with the respective currencies. However, the set of "exotic" currencies in banks is quite typical.

For example, in the state-owned PrivatBank, you can buy and sell the British pound sterling, Czech koruna, Polish zloty, and Swiss franc.

The state-owned Oschadbank says that in addition to the US dollar and the euro, they carry out transactions for the purchase/sale of pounds sterling, Swiss francs, Canadian dollars, and Polish zlotys.

"All currencies except the US dollar and the euro can be bought in cash at Oschad. During the current year, customers bought pounds sterling, zlotys, and Swiss francs more often, but the demand for them is insignificant," the press service says .

Denys Vorobyov, FUIB's Director of Innovative Technology Development, says that additional foreign currencies can also be bought and sold in their bank. In particular, Polish zloty and British pound sterling (GBP).

All transactions are available both in cash at the bank's branches and in non-cash format through FUIB's mobile application.

"We are also seeing an increase in the popularity of conversion transactions between different currencies, such as GBP/USD, EUR/PLN, USD/PLN. This is relevant for both app users and customers in branches," says Vorobyov .

He adds about the popularity of additional currencies:

• The Polish zloty (PLN) remains the most popular currency. The volume of transactions in 2024 amounted to about PLN 40 million, and in 2025 it has already reached PLN 28 million.

• The second place is occupied by the British pound (GBP): in 2024 – 6 million pounds, in 2025 – about 4 million.

Is it possible to invest in exotic currencies

Oleksandr Khmelevsky, PhD in Economics, says that some Ukrainian banks open foreign currency accounts in currencies such as the Polish zloty, Canadian dollar, Hungarian forint, pound sterling, Swedish krona, Swiss franc, etc. This makes it possible to buy these currencies in non-cash form.

However, Ukrainian banks generally set purchase and sale rates for such currencies that differ significantly from the NBU exchange rates or the rates of these currencies on the world markets.

Buying these currencies for citizens in Ukraine is quite expensive, while selling them is very cheap. Also, there are practically no opportunities for investing in these currencies in Ukraine.

"Several Ukrainian banks accept deposits in Polish zlotys. But while the vast majority of banks in Ukraine accept deposits in dollars or euros, it is usually impossible to place a deposit in other foreign currencies," says Khmelevsky .

Therefore, the dollar and the euro remain the most popular foreign currencies in Ukraine. Other foreign currencies are usually bought for settlements with companies or citizens of these countries or for traveling to these countries. The expert adds that it makes no sense to buy such currencies for investments .

In practice, banks supplying cash foreign currency mostly import banknotes of two currencies to Ukraine: the dollar and the euro. But currencies such as Polish zloty, Swiss francs and pounds sterling are imported very little.

Therefore, they are difficult to find in the public domain at bank cash desks. They are usually sold by non-bank financial institutions with a currency exchange license from the National Bank. This was stated by Alina Kompanets, Marketing Director of Unex Bank.

"It is a real rarity to sell exotic foreign currencies such as the Japanese yen or the Danish krone. Although they can be attractive from the investment point of view. The biggest demand in Ukraine is for the dollar and the euro, so our banks are focused on supplying these banknotes. Typically, exotic cash appears in Ukraine after being brought in by tourists. People return from their respective countries and hand over the remaining amounts from their trips to exchange offices. Less often to banks, more often to non-bank currency exchange offices," says Kompanets .

She adds that other currencies are rarely bought for investment purposes. This is primarily due to the fact that the calculation of rates for such non-commonly used currencies is done through the dollar, which makes the direct cost in hryvnia somewhat overstated.

In addition, these are not very liquid currencies, as they cannot be freely converted into hryvnia at any time, like the US dollar. Difficulties with the exchange of unpopular currencies occur due to the small number of financial institutions that work with them. Therefore, you should think carefully before making such investments.