The National Bank will start withdrawing old-style UAH 50 and UAH 200 banknotes from circulation
18 October 2024 07:24
Starting 1 November 2024, the National Bank will begin to withdraw from circulation UAH 50 and UAH 200 banknotes issued in 2003-2007. This was reported by the NBU press service, "Komersant Ukrainian" reports
“The gradual replacement of the old-style 50 and 200 hryvnia banknotes will complete the process of modernising the hryvnia banknote and coinage range,” the statement said.
The old-style banknotes will remain valid as a means of payment and do not need to be exchanged.
How will the gradual replacement take place?
Starting from 1 November 2024, the NBU, together with banks, will gradually withdraw the said banknotes from cash circulation in Ukraine, in particular
- banks will not issue such banknotes from their cash desks for all types of cash transactions;
- The NBU will stop issuing these banknotes to banks, cash collection companies, and cash handling companies.
Once in the hands of banks, the old-style hryvnia 50 and 200 banknotes will no longer be returned to circulation, but will be withdrawn and transferred to the NBU for further recounting and disposal.
At the same time, the replacement of the old 50- and 200-hryvnia banknotes with modern ones with enhanced security features will not affect the cash payments of citizens, who do not need to take additional measures to exchange them.
The NBU reminded that the gradual withdrawal from circulation and replacement of banknotes in the following denominations is already underway:
- → UAH 1 and 2 of the 2003-2007 design – from 1 October 2020
- → 5, 10, 20 and 100 hryvnias of the 2003-2007 design – from 1 January 2023
- → UAH 500 – from 1 August 2024.
In October, the NBU submitted a package of draft laws to the Verkhovna Rada to change the name of Ukraine’s banknotes.
If the bills are supported by the parliament, Ukraine will have steps instead of kopiykas. At the same time, no one will confiscate the already minted coins; they will remain in circulation alongside the new steps.
