The National Bank of Ukraine continues updating the cash hryvnia. From November 1, 2024, the process of withdrawing from circulation 50 and 200 hryvnia banknotes of the 2003-2007 models began. What does this mean for Ukrainians, why is the change being made and how will it affect the use of money in everyday life?
From now on, the old 50 and 200 hryvnia banknotes will no longer be issued by banks. Citizens do not need to go through the special exchange procedure because:
- Old banknotes remain valid means of payment.
- They will be gradually withdrawn from circulation during settlements and transferred to the NBU for disposal.
The National Bank explained that the old bills will be replaced with modern banknotes (2014 and newer). The reason for such changes is the improvement of the quality of cash in circulation and the completion of the modernization of the hryvnia banknote and coin series.
"This will make the national currency more reliable and durable," the National Bank noted.
How will it affect Ukrainians?
- No restrictions on use:
Citizens can continue to use old banknotes for payments. - New banknotes:
At ATMs, bank counters and retail chains, Ukrainians will receive only modern banknotes. - Smooth transition:
The withdrawal process will take place gradually, without creating discomfort for citizens.
What banknotes are still withdrawn from circulation?
The process of updating the cash hryvnia began several years ago. The following have already been withdrawn from circulation:
- 1 and 2 hryvnias (2003-2007 samples) - from October 1, 2020.
- 5, 10, 20 and 100 hryvnias (2003-2007 models) - from January 1, 2023.
- 500 hryvnias - from August 1, 2024.
By replacing banknotes, the NBU seeks not only to improve the quality of the currency, but also to ensure its protection against counterfeiting. Modern banknotes have improved security features, a longer service life and an aesthetically pleasing design.
