From 2023, the National Bank will begin to withdraw from circulation old banknotes in denominations of 5, 10, 20 and 100 hryvnias

Author:
Oleksiy Yarmolenko
Date:

Starting in 2023, the National Bank of Ukraine (NBU) will begin to withdraw from circulation old banknotes in denominations of 5, 10, 20 and 100 hryvnias. They will be replaced by coins (5 and 10 hryvnias) and new bills (20 and 100 hryvnias).

The press service of the NBU writes about this.

It was noted there that it is about bills issued in 2003-2007.

"The main purpose of such a decision is to improve the quality of cash in circulation (taking into account the wear and tear of the previous generation banknotes, which have been in circulation for quite a long time), to improve cash settlements and their convenience for the population. It is important for the National Bank that the national currency of Ukraine in circulation is reliable and of high quality. "Ukrainians should be sure that the cash received in the retail network, bank cash registers or in their ATMs is truly payable, protected and of proper quality," the NBU emphasized.

The removal of old banknotes from circulation will take place as follows: the National Bank will no longer send old banknotes to bank counters, and banks will no longer issue old banknotes — they will be collected and handed over for recycling.

The NBU emphasizes that old bills remain a valid means of payment. But thanks to such steps, over time, fewer and fewer of them will remain in circulation.