NBU withdraws hryvnia from circulation: banknotes of different denominations are subject to withdrawal

A number of hryvnia banknotes issued before 2003 will be withdrawn from cash circulation. The goal is to optimize the denomination range. However, the exact date has not yet been determined – the money will be available for exchange until the end of martial law, as well as within three months after it is terminated.

According to the NBU, banknotes of various denominations are being withdrawn from circulation. In particular:

• 1;
• 2;
• 5;
• 10;
• 20;
• 50;
• 100;
• 200 UAH.

"They have been withdrawn from circulation for a long time. They are not accepted for cash payments for goods and services," the statement said.

Where to exchange old banknotes

Exchange of old hryvnia banknotes issued before 2003 is free of charge and without restrictions. Money can be exchanged for banknotes of all denominations in circulation. To do so, you should contact the National Bank of Ukraine at the following addresses

• Kyiv: 2-A Kontraktova Sq;
• in Dnipro: 13 Voskresenska St;
• in Lviv: 4 Kopernyka St;
• in Odesa: 8, Rishelievska St;
• in Kharkiv: 1 Teatralna Sq;
• in Khmelnytskyi: 91 Volodymyrska St.

You can also make an exchange at authorized banks. They are:

• Oschadbank;

• PrivatBank;
• Raiffeisen Bank;
• FUIB.

"For up-to-date information on which branches and outlets you can exchange money, please visit the official websites of these banks," the NBU said.

Why money is withdrawn from circulation

As explained by the regulator, the withdrawal of money from cash circulation is part of the optimization of the nominal range of hryvnia banknotes and coins. This is expected to

• improve the security and quality of money;
• make cash payments more comfortable and simple.

As reported by OBOZ.UA, the National Bank is also withdrawing from circulation coins issued before 2003 of various denominations. However, you won't be able to get rich on such kopecks – because they were issued in large numbers and made of ordinary materials, these coins will not become expensive and collectible.

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