A new 1,000 hryvnia banknote, designed in 2019, is being put into circulation in Ukraine. It will bear the signature of the current governor of the National Bank, which will distinguish it from other banknotes.

This was reported by the NBU. They noted that the new banknote will be put into circulation on 20 July.

"As part of the planned issue of 1,000 hryvnia banknotes to replace worn and damaged banknotes, the National Bank will issue 1,000 hryvnia banknotes of the 2019 design starting 20 July 2023 - with the signature of the Governor of the National Bank of Ukraine and the year of issue on them," the statement said.

New 1000 hryvnias to be accepted by all

As explained by the regulator, the new note will be in circulation along with other banknotes of this denomination from previous years of issue. It is also mandatory for acceptance by all individuals and legal entities "without any restrictions throughout Ukraine".

"In accordance with Ukrainian legislation, the banknotes that are put into circulation within the planned issue bear the signature of the current Governor of the National Bank," the NBU reminded.

Cash will not be cancelled

At the same time, the NBU stressed that it does not intend to abolish cash in Ukraine and thus convert all payments into non-cash transactions. They explained that it is impossible to abolish cash, including in connection with the war and martial law. After all, it is noted, in such circumstances, Ukrainians must:

• have access to cash;
• to meet their basic needs in this way "even in the event of possible critical events, such as blackouts, military operations, etc."

However, work on the digital version of the national currency, the e-hryvnia, is ongoing. It is expected that this version of the national currency will function as a supplement to the cash held in accounts.

The decision on the feasibility of a large-scale e-hryvnia issue in Ukraine will be made based on the results of a pilot project. The fate of the e-hryvnia is expected to be decided in early 2025.

As OBOZREVATEL reported, meanwhile, FUIB terminals temporarily did not accept UAH 500 and UAH 1,000 banknotes. The bank explained this by technical work.

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